Recently, looking at ETH's trend, it seems like it's stuck in the middle—unable to break higher and hesitant to fall further. Does this kind of stalling feel uncomfortable? Let's see what the data says.

In the past couple of days, a key piece of information has emerged. According to real-time data from Coinglass: once ETH drops below $2800, the liquidation strength of long positions across major exchanges will accumulate to $1.022 billion. In other words, it's like the market is filled with dry tinder; as soon as the price hits the $2800 ignition point, it could trigger a chain reaction, with long positions being liquidated instantly, leading to an even sharper decline.

Conversely, if ETH breaks above $3000, there is also $843 million in short liquidations prepared. Once it breaks upward, short positions will be ruthlessly squeezed, potentially causing a violent rally.

So the current situation is: the bulls and bears are each defending at the 2800 and 3000 levels. The market price is stuck in the middle, with neither side daring to move—whoever moves first risks triggering the other's nuclear button. This is also why the stalemate has been so persistent recently, with such high uncertainty.

From the 4-hour chart, the rebound indeed lacks strength, with resistance at 3015 and 3100. Without sufficient trading volume, it’s impossible to break through. Once a directional breakout occurs, it will be accompanied by significant volatility and trading volume. The key is to see which side can hold back longer.