Recently, I've been paying close attention to ETH's price movement, and there are a few details worth discussing.

From a technical perspective, the surge to 3403 and subsequent pullback did scare off many people, but a closer look at the trading volume reveals the story—volume increased sharply during the breakout, then decreased to one-third of that during the pullback. This pattern of "volume surging at the top and contracting during the pullback" usually indicates that the main players are quietly accumulating chips during the adjustment. The Bollinger Band's middle line at 3108 has been steadily supporting the price, and now that the bands are starting to widen after narrowing, it often signals an upcoming acceleration.

Even more interesting are the on-chain data. In the past 24 hours, exchanges saw a net outflow of 12,000 ETH, while large holders with over 1,000 ETH quietly accumulated 8,000 ETH in the 3350-3380 range. Such large-scale accumulation isn't something retail investors can orchestrate; it clearly points to institutional players building positions on dips.

From a fundamental standpoint, Vitalik recently mentioned that in Q1, they will push forward with cross-chain integration plans for the Layer 2 ecosystem. Today, the total locked value (TVL) in DeFi rebounded by 7%. Capital is flowing back into the ETH ecosystem, and this emotional recovery provides a good opportunity for low-cost entry.

Currently, ETH is stuck around the key support level of 3350. If it can hold, the next upside potential is worth looking forward to.