Recently, I've been watching ETH's price movements, and honestly, I find it a bit hard to understand. As a mainstream coin, its performance is actually less straightforward than some new coins — it hesitates when it should rise, and when it should fall, it gets stuck and doesn't move. This kind of trend pattern is quite frustrating.

A closer look reveals some clues. Retail investors' stop-loss levels often become key "targets" for "special care." Once triggered, there's a reverse surge, as if someone is precisely sniper targeting. This back-and-forth manipulation makes it easy to get caught in both long and short positions. Even more heartbreaking is that those whales holding large amounts of spot holdings seem to be secretly controlling the rhythm — they don't want the price to collapse (fearing to dump their coins), but they also don't dare to let it rise confidently (afraid retail investors will follow and siphon off liquidity).

The result is a deadlock: technical analysis lacks genuine trend support, and it's purely capital game-playing out a script. This kind of manipulation is becoming more obvious, and for ordinary investors, participation is indeed declining.