ETH's intraday structure is already quite clear. Instead of worrying about how the market will move in the future, it's better to understand what stage we're currently in.

**Market Framework**

Recently, the pattern has been a typical rise, surge, and pullback. After a spike around 3056, there was no further volume extension, and the momentum quickly weakened. Then, a sharp acceleration downward directly hit around 2908, which marks the bottom of this round of sentiment.

After the decline, instead of continuing downward, the price entered a sideways consolidation mode, oscillating roughly between 2920 and 2960. This indicates two things: first, the bearish momentum has been exhausted; second, the bulls are currently only repairing and have no active attack intentions.

**What to Watch for in Technicals**

The 30-minute Bollinger Bands are clearly narrowing, with the price hovering near the middle band. The key word here is: unease. When the market is uneasy, it means you shouldn't chase the highs or hold heavy positions; the best approach is to wait.

Currently, the price is slightly above the middle band, but the upper band is under pressure, and the lower band hasn't been tested again. This is a neutral position with no clear signals.

**Volume Tells the Truth**

The decline was accompanied by a clear increase in volume, indicating genuine panic. However, the recent rebound and consolidation have seen decreasing volume, mostly passive repairs. The current upward movement is not driven by active capital, but just a natural rebound after a sharp decline.

**MACD Signals**

The MACD is gradually climbing from deep in the water towards the zero line, with the histogram shrinking, but it hasn't yet formed a strong bullish divergence. This indicates a "bottoming out but not yet confirming a reversal" state.

ETH is neither taking off nor on the verge of collapsing; it’s waiting for the next move. In this kind of market, those who rush to act first are more likely to pay tuition. Patience often proves more effective than quick judgment.