ETH 4 Hour Sideways Channel

There is something odd going on with ETH at least on GDAX the last two days.
Ever since the short swing there are volume spike and wide ranges, that looks to use like potential ICOs dumping.
The drops and quick recoveries show market orders dumping a few times yesterday.
We have a clear 4 hour sideways channel here and you could even call this a "No Trade Zone" to be patient waiting for the break.
4 hour EMA are still resistance while already support on BTC for quite some time.
ETHBTC is still beat up so we are watching for a catalyst to see ETH catch up a bit to the others.