ETH is now unusually quiet

The 2250 level has been sideways for nearly 12 hours, with volatility suppressed very low.

When I was watching, I had a feeling — it’s not that it can’t move down, but more like both bulls and bears are waiting for a signal. The three moving averages are stacked above, with 2299, 2302, 2304 in sequence. Under this structure, every rebound gets pressed down. RSI is still around 45, neither oversold nor overbought, and volume has shrunk to 90% of the average, basically participants are waiting and watching.

At this point, I would pay attention: if volume continues to shrink, volatility will eventually increase. It’s hard to say whether it will go up or down, but once a clear breakout with increased volume occurs in one direction, the market will move quite quickly.

Next, watch the battle around the 2300 integer level and the change in volume there. If you don’t want to bet on the direction, just want to see who can’t hold back first.