#ETH走势分析 Ethereum spot price is $3,046, almost right up against the $3,000 Put Wall.

What does this mean? Market makers are currently in a positive Gamma environment (+$4.6M), which means they’ll keep “buying low and selling high” to hedge their risk. This mechanism naturally keeps the price oscillating within a narrow range.

Looking at implied volatility, it’s spiked to around 70% across all periods, but the actual price movement isn’t nearly that volatile. IV is inflated, realized volatility is suppressed—this is basically free money for shorting volatility (Short Vega).

In the short term, $ETH is very likely to chop in the $3,000–$3,200 range. But don’t forget, the long-term Max Pain sits up at $5,000, which is a major gravitational pull.

What’s the play here? Sell put spreads backed by the $3,000 support to collect time value, or go straight for an Iron Condor and capture the premium from both sides of the range-bound action.