Recently, Ethereum's performance has indeed been a bit perplexing. The overall trend has been unable to break through for a long time, and the risk of short positions is also significant. The key resistance level at 98,000 is really a tough nut to crack, and the situation is similar around 3400.

In the next few days (Thursday and Friday), there are basically no major events, and the market will continue to fluctuate within this range. My judgment is that there's no rush now; a strong enough bearish catalyst is needed to thoroughly shake out the market. Only then is it possible to truly break above the 98,000 level next week. Otherwise, relying solely on technical analysis makes a breakthrough difficult.

Although the bears currently hold the advantage, to fully control the situation, it still depends on whether there is enough downside momentum in the follow-up. Otherwise, both bulls and bears will continue to fight within this price range.