Currently, ETH is a bit "bloated": every time it tries to rise a little, it is suppressed by the Bollinger Bands and upper band. Every time it falls, there are always buy orders to catch it, preventing a big dump. It looks like - weak breakthrough, hesitant to fall.

Technical signals: Stalemate between bulls and bears, breakthrough from the previous night?
Let's take a look at some key technical indicators to get a clearer view of the market's current "entangled" state: Moving Average Tug-of-War Zone: ETH is stuck between the 50EMA (2,539) and the 100EMA (2,566), this area is like a "swing trench", no one can break out. Bollinger Band Contraction: The lower band is at 2,456, and the price is moving along the middle line, indicating that volatility is severely compressed, a big move is coming. Ichimoku Cloud: The price is still below the "cloud", with the baseline + conversion line flat, the short-term trend cannot break out.
RSI and MACD: RSI is around 49, showing weakness; MACD has no crossover signals, and the market lacks a clear direction.
DMI and ADX: Both bullish and bearish momentum are weak, and the market sentiment is cautious.
How to view the overall trend?
From the daily chart, ETH is still in a descending channel structure and has not yet successfully reclaimed the Fibonacci 0.5 position of the middle band.
In other words, the upward space is temporarily limited, and a breakthrough at $2,660 is when the reversal begins.
If it's just a short-term sideways movement with insufficient rebound strength, it can easily lead to "oscillating and wearing you down," and it may even "fall in front of you."
In summary, Ethereum is currently at a critical juncture:
Either break through the encirclement and charge to stand above 2,600 USD;
Either break the support, opening up the falling space to 2,480, or even lower!