#数字资产动态追踪 ETH at this price level is really quite interesting👀

As a trader who has paid quite a few tuition fees, I’ve carefully examined the 1-hour chart and on-chain data. ETH is indeed at a critical point right now.

**Technical Analysis**

The price has been consolidating repeatedly between 2950-2975, and the Bollinger Bands are squeezed to an extreme narrow level, which is a sign of an impending breakout. Although the MACD has shown a brief death cross (DIF 1.00, DEA 1.64), the histogram is shrinking, indicating that the bearish momentum is waning. The EMA30 is holding around 2953, acting as a solid support level.

The most crucial point is yesterday’s test — a rebound from 2953 with strong buy orders below. If volume can pick up and the price stabilizes above 2975, the psychological levels at 2980 and 3000 will be within reach and likely broken.

**On-Chain Data Insights**

In the past 24 hours, the top 10 whale addresses have increased their ETH holdings by 42,000 tokens, with an average cost basis between 2960-2980. This indicates that smart money is quietly accumulating. Meanwhile, major exchanges (some leading platforms and compliant ones) continue to see large withdrawals, suggesting users are hoarding.

Open interest (OI) in futures contracts is steadily rising, but funding rates remain neutral, showing no signs of excessive leverage risk — a positive signal.

**Current Catalysts**

The SEC might reassess the spot ETF approval in Q1, and this news is spreading in the market. The options market has long been positioning with large bullish bets. Additionally, gas consumption on Layer 2 chains like Arbitrum and Base has hit new highs for the year, and the staked ETH contracts in the Ethereum ecosystem have increased by 3.2% in just one week.

**My Outlook**

Bullish. The current consolidation is building energy. Once the hourly closes above 2980, algorithmic traders will follow suit, targeting 3050-3100. If a pullback occurs, 2940-2950 is a good entry point, with a stop-loss below 2930.

The less active it seems, the more likely on-chain data is brewing a big move. Remember this principle.