Steady. It flashes to indicate WPS readiness, amongst other things. The lights on the LAN ports flash to indicate connectivity.
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Right now my wifi connection works fine but my hard wired does not. I get a check network message when hard wired.
I tested with a different ethernet cable and I also tried hard wiring my laptop. Neither made a difference. When I checked the laptop network status and chose ethernet, it had an "unidentified network and no internet" message beside it.