ETH price has been fluctuating around the 3110 level for most of the day. Among the crowd watching the market, some are starting to say "Double bottom formed, starting at 3300," but behind this optimism, few truly understand what the main players are up to.

Let's start with a practical question: Is this sideways consolidation before us a buildup to surge upward, or is it a carefully designed trap for retail investors? Don't rush to conclusions. Let's clarify the logic of this 1-hour chart first; otherwise, you might be the next to fall into the "boiling frog" dilemma.

Let's review this decline: dropping from the high of 3308, this isn't just a random correction. The real situation is a classic "staircase resistance"—from 3308 to 3250 to the current 3120 zone, each rebound's high point is gradually decreasing. What does this mean? The bulls' offensive rhythm has been disrupted. Every attempt to rebound is suppressed. In plain terms, "the bulls' momentum has been completely broken."

Seeing ETH bounce back from 3052 to 3110, many immediately shout "stabilized" or "bottoming out," which just falls into the main force's "using time to exchange for space" strategy. The sideways movement seems like building strength, but in reality, it's slowly wearing down your alertness at this price level—"Hey, it’s not dropping anymore, feels pretty stable," "If I don’t chase now, I’ll miss the rebound." When the heart softens, traders can't help but go long, and this is the entire process of the "boiling frog" scenario.

The most difficult indicator to deceive in trading is volume. The volume performance during this rebound clearly shows the surface of "trap longs." Experienced traders know that a volume decline during a rebound often signals a false breakout.