I looked at the recent 2-hour trend of Ethereum, and this position is quite subtle.

Overall, ETH is currently consolidating at a high level. Previously, it surged from the low point of 2927 to around 3074, which was quite a nice performance. But what about now? The latest price is fluctuating repeatedly in the narrow range of 3028 to 3036, clearly entering a state of trading range consolidation, with neither side willing to back down. This kind of movement usually appears in the latter half of a mid-term trend—either it will make a big breakout, or it will turn around and pull back.

Next, let's focus on a few price ranges: looking upwards, 3050-3070 is a hard resistance, as it has been tested multiple times without holding (it peaked at 3074 before pulling back). In the short term, if it can break through the upper limit of the current range at 3045, there might be a chance; looking downwards, the 3000-2990 area serves as a support line, as it has held up several times before. If it really breaks below 2980, then the story might need to change.

From the latest candlestick, the opening was 3028.8 and it closed at 3036.86. Although it is a small bullish candle, the entire day's fluctuation was only 21 points—what does this indicate? The market is hesitant, and large funds are still on the sidelines. At this position, it is neither a good time to chase after gains nor suitable for blindly bottom-fishing; patience is needed to wait for a clear direction.