Ethereum's recent market movement is really frustrating, with a volatility of less than 100 points and trading volume so light that one might suspect the market is in hibernation. After the US stock market opened, it took a dive, reaching 2960 before losing momentum completely. Now it has retreated back to around 2945, repeatedly stalling.

From a technical perspective, this is a typical low-volume range-bound oscillation. All kinds of momentum indicators have failed, and the price is firmly pressed between the lower and middle bands of the Bollinger Bands, making upward breakthroughs impossible. The key issue is that trading volume is not supporting any move; under these conditions, any attempts to break upward or downward are mostly false signals, with a very low probability of a genuine breakout.

In the short term, the 2980-3010 zone is the upper resistance area, while support below depends on whether 2850-2880 can hold. Until trading volume picks up, it will be difficult for the market to form a clear direction.