#美国就业数据表现强劲超出预期 Ethereum's recent market movement, to be honest, is quite dull.

Stuck in a range, repeatedly messing around, unable to break out of this cycle. On the hourly chart, it looks like an M-top is about to form, with the key neckline around 2911—right at the lower boundary of this range.

What if it really breaks below? The previous support at 2875 probably won't hold, and it could head straight toward the 2836 area. The current situation boils down to two words: "Break or not, establish."

If it breaks through with volume, surpassing 2942, then consider going long on the right side, targeting the 2975 to 2994 range. Conversely, if it drops with volume below 2920, then seriously consider shorting, with support levels at 2858 to 2810.

The key point is, as long as it remains within the range, don't act recklessly. Such overlapping high-volume candles leave little room for operation; too many moves could lead to losses.

Looking at the larger timeframe, the 4-hour chart shows a clearer rhythm: a decline, consolidation, another drop, and now a consolidation phase again. The market has inertia, and most traders are being carried along by this inertia.

Unless it can hold above 2973 steadily, this consolidation phase is likely over, and the market will continue downward.

Rather than rushing, it's better to wait for it to choose a direction on its own. The market can't run away, but your capital can't withstand constant messing around.