At 12:15 AM, the 1-hour candlestick closed at 3261.9 with almost no fluctuation. The surface calmness of -0.05% can easily be misleading, but the true trading logic is surging with hidden currents.

**What signals are the technical indicators sending?**

Just look at the Bollinger Bands. The price is tightly hugging the middle band (3266.25) in consolidation, with the upper and lower bands rapidly narrowing — a typical sign of contraction and accumulation. Once the timing is right, it could break out in a single direction. The upper band at 3294 is the first resistance; a volume breakout here would open up space for a strong move. Conversely, the lower band at 3238 is the bottom line; a breakdown below this level would trigger obvious panic selling.

The MACD situation is even more interesting. The DIF and DEA are about to form a death cross but haven't yet, and the green bars are shrinking but haven't turned red. This indicates that the bulls and bears are engaged in a fierce struggle. The next candlestick is very likely to be the turning point.

**What does on-chain data reveal?**

On-chain indicators monitored show that the number of active ETH addresses and the frequency of large transfers have recently synchronized in unusual activity. This is not typical retail behavior; it’s a sign of big funds quietly positioning. Coupled with the intensive launch of new applications on the Ethereum Layer 2 ecosystem this week, and the quietly rising staking volume, the fundamental support has been consistent. What the market is missing now is a trigger point.

**What’s the strategy outlook?**

This is definitely not just sideways trading; it’s a phase of accumulation. The main players are using hourly fluctuations to shake out short-term holders. If within the next 1-2 hours, ETH can hold above 3270 with volume, the signal to add positions will become clearer, with a target around 3350. Conversely, if volume pushes below 3240, short-term traders should exit, with support at 3200.

The rhythm determines everything. Better to miss an opportunity than to make a counterproductive decision. I will continue to monitor the trend over the next 24 hours, and specific buy and sell points will be provided based on actual conditions. Bull markets often see sharp dips, bear markets often have quick spikes, but as long as you grasp the rhythm, prepare your positions, and wait for signals, there are still chances to profit together.