Ethereum's price remains in a tight range between $2,850 and $3,100, as traders exhibit mixed sentiments. While some anticipate a decline to $2,900 by the weekend, the GEX indicator points to a potential short-term rise to $3,090–3,092. The options market is currently dominated by aggressive shorting of put options, with significant positions around the $2,600–$2,850 strike prices, indicating a bearish outlook among traders.