ETH these past couple of days have really been tough to watch. Looking at the 3300 level, the bulls seem to have run out of steam.

To be honest, this is how the market is right now—unable to push higher, yet not willing to fall further. The 3400 level above is a clear area of selling pressure, while 3250 below acts as support. The price is stuck in the middle, swinging back and forth. Someone is asking if 3305 can be pushed for a quick move, but that logic itself is flawed.

**Why is this a dangerous position at the halfway point?**

Looking upward, the 3403 hurdle has been tested once before, but the selling pressure appeared very quickly, and the bulls had no chance to stabilize. This clearly was a move by the main players testing the waters—seeing that the sell orders are too heavy, they pushed down accordingly. Currently, the candlestick position looks like it’s hanging in mid-air; chasing a rally here is essentially setting a trap for yourself.

Looking downward, although there is support at 3250, if that line breaks, there’s nothing left to stop the decline. This is what is meant by "Rolling stones above, abyss below."

**From a larger cycle perspective, what is MACD indicating?**

On the 4-hour chart, the red bars are shrinking. This could normally be a good sign, but the problem is that the bulls are not aggressive at all. The shrinking red bars indicate weakening momentum, not brewing strength. With the bulls in this state, it’s hard to form an effective upward push. Frankly, the buying volume isn’t enough, and the strength is lacking.

**The smaller cycle details are even more interesting.**

Looking at the 1-hour and 15-minute charts, the price is sticking around 3300, bouncing back and forth. This is a typical shakeout behavior. Weekend trading volume is already low, and the main players are using this window to shake out impatient and weak-handed retail traders—what’s called "weak hands" in trading jargon.

At such times, the most common scenarios are: chasing the rally and getting slammed; then trying to short and getting squeezed back up. Both directions result in losses, and the biggest losers are always the trend followers.

**So, how should we view this?**

First, don’t be fooled by flashy indicators. Bollinger Bands, stochastic oscillators, all of these are traps in this kind of sideways market.

Second, weekend trading lacks volume support. The main players are happy to use low liquidity to harvest retail traders—this is standard practice. If you insist on opening positions now, you’re essentially handing over your chips voluntarily.

Finally, wait to see if a clear directional signal emerges. Either a break above 3400 and stabilization, or a breakdown below 3250 forming a new support. Right now, in this tug-of-war, neither side has an advantage.

The market’s biggest test has never been technical analysis, but psychology. In uncertain times, maintaining composure is far more valuable than reckless trading.