I'm staring at this chart#ETH I've been looking at the chart for a long time; to be honest, I feel a bit stuffy inside.
The price is stuck around 2930, neither high nor low, but the sentiment is very low.
The moving averages are all pressing down; MA25 and MA99 are like two ceilings, any rebound gets pushed back down immediately.
The net outflow of funds over 24 hours is close to 10,000 ETH; this is not something retail panic sold off, but rather a feeling of being slowly drawn out throughout the day.
But interestingly —
The large orders are net inflows, while the small orders are running.
Upon closer inspection, this round of decline is not a 'full-scale panic', but rather like:
Retail investors can’t hold on any longer; institutions are walking while collecting.
The recent macro situation is also very tangled.
On one hand, the ETF progress on the U.S. side is fluctuating, and the policy tone is cautious,
On the other hand, the Davos Forum is discussing stablecoins, RWA, and on-chain settlements every day, saying they embrace it, but not providing you with any market action.
Moreover, a certain tech tycoon came out a few days ago to sing 'AI is the future, Crypto is just a supporting role', causing market sentiment to be pulled back and forth.
The money hasn't gone far, but it's just not in a hurry to come back.
So, the current ETH gives me the feeling of just one sentence:
It's uncomfortable, but it doesn't feel like it's going to die.
It doesn't look like a main downtrend, nor does it seem to be about to reverse immediately,
It feels more like waiting for a 'reason' —
It might be a sigh of relief from the macro side,
It might be a clear policy signal,
It might also just be a decent volume surge.
I don't chase highs, nor do I dare to blindly bottom-fish.
In this position, there's only one thing I can do:
Hold your positions steady and keep your emotions low.
The market loves to do one thing most, which is to quietly walk out that portion you don’t understand when you have the least patience.
What do you all think?
Is the current ETH bottoming out, or is it holding back for a move?
Discuss your true thoughts in the comments; I want to hear some 'living' voices.
