#美国证券交易委员会推进数字资产监管框架创新 The recent market movement of ETH is essentially a repeated tug-of-war.

It has been stuck within this range, unable to break out or fall back, as if trapped in a self-created circle.

On the hourly chart, it's almost forming an M-top pattern, with the neckline at the lower boundary of the range around 2911.

If this level is truly broken downward, the previous low of 2875 may not hold, and it could test around 2836.

This is the current situation: to break or not to break.

Either break through 2942 with volume, which would present a long opportunity, targeting around 2975 to 2994.

Or, with single volume, break below 2920, and consider shorting, with support levels at 2858 to 2810.

As long as it remains within this range and oscillates, there's no need to overcomplicate. Such overlapping candlestick patterns have limited operational space; acting too much might just dig your own grave.

Looking at the 4-hour chart, the rhythm becomes even clearer:

Drop for a while → consolidate → continue dropping → now consolidating again.

The market has inertia, and most traders are carried along by this momentum. Unless it can stay above 2973 steadily, this consolidation phase is likely to end with a downward move.

So don't rush; let the market choose its direction. Just wait on the sidelines.

The trend can't run away, but your funds can't withstand too much turbulence.