Ethereum has recently fallen into an interesting deadlock. From the hourly chart, the price has been oscillating around the midline of the trumpet pattern, with surprisingly gentle fluctuations—more stable than an ECG.

The key resistance above is at 2937. As long as it can hold steady here, there’s a chance to push upward toward the 3000 near the upper boundary of the trumpet. But if it cannot break through, there’s little to be hopeful for. Looking downward, 2917 is the current neckline; once it’s broken, the price will need to retest the support at 2886—which is also the lower boundary of the trumpet. Interestingly, the support at 2886 has been tested three times. Both the main and secondary patterns appear particularly resilient at this level—has it been reinforced? The price is entangled here, neither wanting to fall nor to rise. What exactly is it trying to do?

The situation is clear: to the upside, a breakout above 2937 is needed to initiate an upward trend; to the downside, a drop below 2886 is required to continue downward. If 2886 is truly broken, the next target is 2839.

**Trading Strategy**: Consider going long with volume on a breakout above 2938 on the right side; if 2917 drops with volume, consider shorting on the right side. The key is to closely monitor volume changes and set proper stop-losses.

On the hourly level, once it stabilizes above 2937, look toward the 2975-2993 range; if it cannot break above this level, the upward momentum will be limited.

The 4-hour critical level is at 2907. If broken, watch the 2860-2785 zone; if not broken, continue to trade within the current range.

The daily chart situation looks a bit less optimistic. The Morning Star pattern within the white box has been mostly engulfed, with only a small part still holding. If the daily closes below 2892, the secondary pattern will deteriorate again. It’s important to note that previous rebounds did not create higher highs nor stabilize above 3090. Now, with the Morning Star pattern engulfed, it suggests that the daily lows may be re-established, leaving only the path downward moving forward.