Ethereum (ETH) is currently in a crucial price range. The price of ETH is hovering around $2240, showing the market's indecision. In terms of technical indicators, the MACD double lines remain below the zero line, but the green bars are shortening, suggesting that the short positions pressure may be weakening. In the KDJ indicator, the J line has slightly risen, but the K line and D line are still hovering in the oversold area, indicating that it may just be a weak rebound at this moment.

Today, the market tested the support level of $2220 multiple times without breaking it, indicating a certain level of support. However, the previous high of $2280 has become a strong resistance level. In terms of trading volume, market activity is relatively low, and even positive news like the BlackRock ETF has not sparked enthusiasm in the market.

The key to the current market may lie in the performance of the US stock market, particularly the tech stocks. If tech stocks can stabilize and rebound, it may provide upward momentum for ETH, potentially challenging the resistance level of $2280. However, in the current market environment of stock competition with limited capital, whether the breakout can be sustained is still a question.

For investors looking to enter the market, it is recommended to wait for a clear signal of increased trading volume and to confirm that the price stabilizes above $2300 before considering entry. In the current market situation, maintaining a light position may be more prudent. It is worth noting that before Ethereum establishes a clear upward trend, significant fluctuations in other cryptocurrencies may carry a higher risk.

Overall, the current market is still in a wait-and-see phase. Investors need to remain cautious and closely monitor the performance of U.S. stocks and the volume-price changes of ETH, waiting for a clearer market direction.