⚠️ With Ethereum moving sideways in this range, sellers are clearly running out of steam, and signs of overselling are quite obvious.

Looking at the latest data, ETH is hovering around $2806 (4-hour chart), with just a 1% intraday swing, showing signs of a minor rebound.

🔍 Market overview:
After the price dropped from its highs, it’s been grinding within the 2720-2860 range. The moving averages ((5/10/20/50/200)) are still in a bearish alignment, but have flattened out in the short term. The trading volume is interesting— the most recent 4-hour candle only saw just over 1.07 million, which is even lower than the previous average of 500k, indicating that selling pressure is drying up and buyers might be gearing up for a big move.

Order book data reveals some insights:
• Spot buy/sell ratio is fluctuating between -1.43 and 4.47, mostly green bars (buyers dominant), and the buy ratio has been rising lately
• Perpetual contracts are similar, from -1.29 to 3.75, with contract buyers also getting stronger
• In terms of aggressive trades, spot is swinging between 53.6 million and -65 million, alternating red and green but net buying is slightly in the lead; contracts are even more volatile, from 980 million to -1 billion, but the peak of large sell orders has already passed
• Open interest has dropped from 1.98 million to 1.19 million, showing overall market participation is cooling down
• Open interest/market cap ratio is steady at a low level of 0.074-0.093, so there’s no risk of excessive leverage

💥 Quick glance at technical indicators:
RSI has dropped into the oversold zone (RSI6 is 35.37, RSI14 is 35.28), not at an extreme yet, but a rebound signal is brewing. Bandwidth is only 0.15%, volatility is squeezed so tight that a breakout is likely coming soon.

Key levels to note:
Support at S1 = 2729.73 and S2 = 2655.65
Resistance at R1 = 2866.22 and R2 = 2928.63

📢 My view:
With weak selling pressure and RSI oversold, there’s a good chance of a short-term bottom and rebound. But sellers on the order book could counterattack at any time, so caution is needed. Watch open interest— if it rises and price breaks above R1 at 2866, you can chase long to R2; if it falls below S1, be ready for a dip to S2.

Low volatility environments are prime for stop-loss hunting— risk management must be the top priority!