The month is coming to an end, and Ethereum's trend has reached a critical moment. As an analyst who has been closely monitoring the crypto market cycles, I believe that Ethereum will inevitably experience significant price movements before the end of the month, and the direction of this movement will depend entirely on the recent strategies of the main players. Investors who seize the rhythm may have the opportunity to double their gains, while others could face substantial pullbacks.

From a technical perspective, Ethereum is currently oscillating near the middle band of the Bollinger Bands. It is worth noting that the Bollinger Bands have been narrowing for nearly two weeks, which is often a precursor to a major trend. According to the behavior of Bollinger Bands, narrowing is usually followed by expansion, and the direction of the expansion determines the subsequent trend. The critical point triggering the expansion is often an effective breakout or breakdown—such opportunities may occur soon.

On the capital side, a more interesting game is unfolding. Recently, the main players have been continuously flowing into the Ethereum futures market, with long-short positions reaching a ratio of 1.2:1. This reflects significant market disagreement, but the bulls are slightly in the lead. In such an extremely polarized environment, a "one side crushing the other" one-sided trend often develops. The main players' choices today will determine the outcome of this battle between bulls and bears.

If the main players choose to first pull back and then rally, it indicates they are accumulating further, preparing for a surge at the end of the month. Conversely, if they push prices higher directly, it is likely a trap to lure more buyers, and a deeper correction may follow. Watching the resistance level at 2870 will be key to understanding the main players' intentions.