$ETH Don’t be fooled by this sideways range—on the surface it seems unmoving, but in reality it’s exchanging positions.

After the recent push higher, there hasn’t been a continuous wave of sell-off pressure. The price has kept getting pinned near the moving averages, grinding back and forth repeatedly. This kind of movement is not fundamentally weak; it’s the main force controlling the pace. Real distribution happens as a steady, drifting downward move, whereas right now prices can’t fall further and can’t be crushed. The bulls have solid confidence.

Look at the details: the lows are being raised cycle by cycle. Although the highs haven’t broken through yet, they’ve already started repeatedly probing the resistance level. This structure is a textbook example of “shakeout while pushing.” Many people get worn down and lose patience in this sort of market, but the real launch often begins from this quiet, unobtrusive stage.

The key levels are very clear. Above, the 2300–2350 zone is the biggest hurdle right now. As long as there’s one time where it breaks out on increased volume and holds steady, the market won’t offer too many more chances at low levels; an acceleration straight upward is a highly likely scenario. Conversely, if it can’t get through here, then it will continue to consolidate and shake out—then make another round after pulling back to retest the support below.
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