ETH has shown some interesting changes in recent market movements.

Looking at the 1-hour K-line, the price closed at 2926, a slight pullback of 0.29%, but the details are crucial. The middle band of the Bollinger Bands holds around 2945, forming a fairly solid support. The price repeatedly fluctuates between 2920 and 2940, indicating a clear washout pattern—main players are accumulating at low levels. The upper band points to 2999, and in the MACD indicator, the DIF and DEA are narrowing at low levels, suggesting that the bearish momentum is gradually weakening. Like a tightly compressed spring, there will always be a rebound moment.

But technical analysis alone is not enough. On-chain data provides a clearer picture. Over the past two days, more than 10 large addresses have collectively increased their holdings by over 500,000 ETH. These "smart money" never make unprofitable trades, and their actions often reflect the deeper market logic. Institutional funds are also quietly positioning through OTC channels. Meanwhile, the Ethereum Foundation is expected to announce a major technical upgrade roadmap this week, and the explosive expansion of the Layer2 ecosystem is accelerating—these are all catalysts.

Overall, the 2999 Bollinger upper band is a key resistance. Once a volume breakout occurs, 3050 becomes the next target. The current price range might be an ideal entry point. Instead of waiting for the rally to start before chasing, it's better to follow the trend now.