Recently, ETH's price movement has been quite nerve-wracking. Looking closely at the 1-hour candlestick chart, you'll notice the price is tightly trapped between the resistance at 2970 and the support at 2780, forming an increasingly narrow triangle—this is the so-called "Death Triangle" that often triggers leveraged liquidations.

The Bollinger Bands are squeezing to an extreme, with volatility approaching zero. This doesn't resemble typical oscillation; instead, it feels like an eerie calm before the storm.

What’s even more chilling is the on-chain data. A whale staked 150,000 ETH in one day, worth approximately $450 million. Meanwhile, the leverage in the futures market has surged to 1:5, with retail and institutional traders holding completely opposing positions—such a split often signals an impending period of intense volatility.

According to market analysis, from Friday to Sunday, ETH is likely to continue oscillating within this range. A true breakout will probably only occur once liquidity flows back on Monday. Short-term traders might consider going long near 2910 and short near 2970, but strict stop-losses are essential. Otherwise, once whales move, you won’t have time to react.

In the medium term, focus on the support zone between 2780 and 2700. Once reached, consider deploying positions gradually. Ultimately, the key is to manage your position risk carefully because, in such a highly divided environment, a single whale’s move can trigger a chain reaction.