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New Year's Holiday Market Observation: ETH On-Chain Activity in the Past 24 Hours
During the holiday, liquidity remains weak, and the US market is also in a holiday break. Ethereum has been oscillating between $2900 and $3000. From the on-chain distribution of chips, the largest concentration of chips at a single price is around $2772, and selling pressure at this level remains evident.
The total on-chain turnover in the past 24 hours is approximately 337,000 ETH. Although there is a slight increase compared to the previous day, the growth is limited, indicating that market participation remains low during the holiday. The sluggish liquidity and holding change data reflect that investors are still in a wait-and-see attitude, with no clear directional breakthrough yet. The recent consolidation during the New Year's period highlights the need to watch when large funds might re-enter the market.
Waiting and watching, still not waiting for the right moment. With such poor liquidity, how can there be a breakout?
When will this round of consolidation end...
Wait, when the holiday ends and the US stock market opens, will there be some action?
33,700 in turnover volume is not enough to watch at all. What are they doing?
It seems better to wait a bit longer. It's easy to get caught if you jump in now.
Only when the US wakes up will there be any movement. Right now, it's just a pancake market.
A turnover of 337,000? What kind of participation is this, it looks dead...
Waiting and watching, still waiting for the big players to finish their meals and come back.
I'm tired of the 2900-3000 range. When will it break out?
Holidays are for lying flat, don't expect any market movements.
The selling pressure is at 2772. What does this data indicate? Someone still wants to dump the market.
Everyone's on holiday, and with this tiny volume, there's no way to create waves. Boring.
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2772's resistance level shows such obvious selling pressure; whether it breaks or not is the real question.
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33.7K in turnover... Hmm, these numbers seem a bit sleepy. Let's wait until real money enters the market before discussing further.
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With such weak liquidity, expecting a directional breakout? Dream on.
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This is just a holiday market, boring. Let's talk again after the US stock market opens on January 2nd.
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A large amount of chips at 2772 showing so much selling indicates that some people can't escape.
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Waiting and watching, investors are all on holiday, and I'm just idling too.
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When will large funds come in? That's the key. Without them, it's just repeated turbulence.
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New Year's Day should be a time to relax. Don't stare at the screen all day; it's too exhausting.
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Looking at on-chain data like this, there's really no big moves; just patiently waiting.