ETH's performance these past couple of days has indeed been quite intriguing.

At midday, I reviewed the market, and Ethereum has been repeatedly testing the 2836 level but hasn't managed to break above it. Trading volume also appears quite subdued, and the overall trend seems to be waiting for some signal to break the deadlock. The previous surge and subsequent consolidation have left RSI stuck at 42—neither oversold nor overbought, just sitting in the middle. This kind of "temperless" market is most likely to cause traders' sentiment to explode. When prices rise, they face pullbacks; when they fall, it's just a slow decline, making it hard to gauge the market's pulse.

Upon closer inspection, this consolidation might just be a technical digestion phase. Although volume hasn't significantly increased, there's no sign of large-scale sell-offs, indicating that holdings are relatively stable. If the market sentiment can hold steady in the next couple of days, and considering the recent activity in the Ethereum ecosystem's Layer 2 solutions and staking data, which show some small movements, and with no signs of fundamental deterioration, then the 2836 level could likely hold. The market might then move into a sideways but slightly bullish rhythm.

Of course, from another perspective, we also need to be cautious—if the consolidation fails to break through key levels and instead starts to decline on decreasing volume, the signals change. RSI at 42 suggests neither bulls nor bears have strong conviction. Once market sentiment shifts, funds may rotate into other hot assets, and assets like Ethereum that are consolidating sideways are most vulnerable to being kicked out first. Currently, volatility has noticeably narrowed, and no one can predict whether the next move will be a breakout or a breakdown. If volume suddenly breaks support levels, we might need to look for a new bottom in the short term.

Honestly, what makes this kind of market most frustrating is—chasing? Fear of getting trapped. Holding positions? Fear of not being able to exit. My current strategy is to keep a small position on core holdings and wait to see how the next one or two candles develop. The key is not to let emotions dominate your actions. When the market is swinging like this, mindset often matters more than technical analysis.

What do you all think about this consolidation? If anyone has other ideas, feel free to share. Let’s analyze together and avoid getting caught in this frustrating market.