ETH has been moving sideways around 3000 for the past two days, and many people think this is just a normal consolidation. But a closer look at the Order Book data shows that it's not that simple.

The transaction structure at this position is quite interesting. There are quite a few sell orders placed in the 3000-3040 range, which seems to indicate significant pressure, but when actually tested, the orders often disappear, and the actual transactions are very few. On the contrary, in the 2940-2990 range, the buy orders are exceptionally solid, and any sell orders that come down are immediately absorbed.

It is worth noting the trading volume. In the past two days, the trading volume of ETH has significantly increased, even doubling, but the price volatility has narrowed. Normally, when large funds enter the market, they either push the price up or down. Now, this "increased volume with stagnant price" state usually indicates that someone is making a large number of trades within a specific range.

From a technical perspective, this does not look like a sign of weakness. It seems more like large funds are using sideways movement to wear down floating capital, preparing for the next move. Such stagnant situations often do not last long; based on past experience, there is a high probability of choosing a direction within 12 to 36 hours.

As for how to respond? Short-term traders suggest waiting for a clear direction before taking action—if there is an effective breakthrough at 3040, you can consider going long, and if it breaks below 2940 but quickly recovers, that is also an opportunity. If you are holding spot positions, this level is actually not suitable for frequent entry and exit; trading repeatedly during a sideways market can easily cause you to be left behind.

If you plan to increase your position, it is best to wait for confirmation at key levels. Either wait for a breakthrough after holding above 3040, or look for a quick rebound opportunity to buy low after breaking below 2940.

This sideways phase tests one's mentality the most. Many people lose patience during the most boring times, resulting in not having any assets when the market starts moving. Stay calm, and wait for clear signals before taking action; this is much more reliable than blindly guessing the direction.