Recently, I have been studying the 1-hour trend of Ethereum in depth, and there are several signals worth paying attention to.

From the technical chart perspective, the current price repeatedly touches around 3221. On the surface, it seems uneventful, but there are many nuances in the details. Although the moving averages remain in a bullish arrangement, they have already flattened, and the MACD is showing signs of a turn—this usually indicates that a short-term consolidation is underway, and the market is accumulating energy.

On-chain data monitoring continues, and a clear change is that large wallet addresses are quietly accumulating. Although these actions haven't yet triggered public discussion or led to a large-scale follow-up, the trend of capital inflow is quite steady, which precisely indicates that informed participants are quietly building positions at low levels.

There are no major news headlines at the moment, but this calm often carries significance. Expectations for ETF expansion are fermenting in the background, and various upgrades within the ecosystem are also progressing. These factors could serve as catalysts for subsequent upward movement.

Overall, the current volatility seems more like the main players are shaking out weak hands rather than signaling weakness worth worrying about. In the short term, the price may test this range multiple times, but as long as the fundamental logic remains unchanged, the potential for subsequent upward movement is relatively promising. The key resistance level to watch is around 3400+.

The key to trading rhythm lies in patience. Participate moderately at the bottom area, wait for both technical and capital indicators to confirm before considering adding positions, so as to effectively control risk and seize potential profit opportunities.