Currently, many people are worried about Ethereum (ETH),

concerned that it might suddenly crash, but in my opinion, this risk is temporarily controllable.

The proportion of retail holdings is too high, with a large amount of capital trapped, making it difficult for the main forces to easily push the price up, but this is by no means the end for Ethereum.

Current ETH is more like accumulating strength, continuously washing out weak hands during the sideways consolidation; once the timing is right, it is very likely to launch a rapid offensive.

As a barometer of the crypto market, if ETH opens an upward channel, altcoins will undoubtedly surge in response, and the market will be booming, making it hard to resist the temptation to chase the rise.

However, one must be cautious; when market sentiment reaches its peak, a pullback often follows.

Looking back, factors such as the Federal Reserve's interest rate cut expectations, ETH - ETF approvals, and Trump's campaign have been key drivers of price increases.

Now these favorable factors may have already been priced in, or lost their speculative space, while new major positive catalysts have yet to become clear, increasing uncertainty on the policy level, making it difficult to form a market consensus, so it's not surprising to be stuck in a consolidation phase.

From a technical analysis perspective, ETH is already at a stage of low prices, with initial signs of a bottom, and there is a demand for a rebound; from a macro perspective, once market sentiment stabilizes, funds are expected to flow back in.

In terms of operation, avoid frequent trading during the sideways phase; it is better to patiently wait for ETH to break through key resistance levels with increased volume before entering, or to look for opportunities near previous lows.

As for altcoins, it is recommended to closely monitor ETH's trend and not to blindly enter the market early.