During this time watching the ETH market, the sideways movement can be a bit frustrating. The price fluctuates repeatedly within a range, giving hope during big pumps, only to quickly fall back, and then it delays continuing the downward trend. This kind of movement can easily lead to a collapse in mindset; some can't wait and cut loss to exit, while others frequently buy low and sell high, resulting in greater losses. In fact, there is logic behind this kind of market.

The essence of market volatility is the consumption of each other's strength by the bulls and bears. Recently, ETH has been in such a tug-of-war, with the sideways range approximately between 2960 and 3030. Last night's dip was quite representative—bears tried to push the price down, but encountered strong buying support near 2960. This failed attempt actually reveals a key piece of information: the bears' strength is waning. Once the bulls seize the opportunity to counterattack, the situation will quickly reverse.

The two positions that determine the market direction are worth paying special attention to. First is the support line between 2960 and 2970, which has been tested multiple times, and each time it is touched, it is quickly supported. This indicates that there is a large amount of capital waiting for an opportunity below this price level. The significance of the support level is that it acts like a defensive line; as long as it holds, there is a basis for the market to break upward. Conversely, if this line is effectively broken, ETH may need to test the 2900 area or even lower.

It is already the end of December, and this period of sideways movement is likely about to make a choice. Whether the bulls can seize the window of opportunity from the exhaustion of the bears to complete the reversal depends on whether these support levels can hold steady.