Depends. Right now to me, I think it means a lot of people are undecided, thus not trading. Kind of like from May 30th peak as ETH went into a slightly rising wedge until June 1. We are still in that price range.
A lot of traders have their stops just above and below the sideways range. Thus that accounts for the volume spikes when the market breaks either way. This can kill margin traders who are wrong but be great for those that guess right. Using a 60 min time frame with displaced EMA set on a length of 100 provides a decent line in the sand.