12.14ETH Evening Prediction Analysis
From the K-line chart, it can be seen that the ETH price rose to 3128.65 during the day and then continued to fall, with a cliff-like drop in the evening, reaching a low of 3048.32, followed by a quick rebound to around 3069.97. Overall, it shows an extreme weak pattern of a significant decline followed by an oversold rebound, indicating that the bearish strength has been sufficiently released. After multiple failed attempts by the bulls to attack during the day, the price broke through the previous support of 3075 and created a new low, further strengthening the short-term downtrend; however, the rapid rebound after the oversold condition indicates that there is technical buying support around 3050, and there is a short-term need for rebound correction. The support level is 3048 (new low of the day), followed by the integer range of 3040-3050. If it breaks down, it will test the 3000 level; short-term resistance is 3070-3080 (first pressure zone for rebounds), with 3090-3100 being a stronger resistance area, and 3120 is the mid-term dividing line between bulls and bears. The end-of-day crash accompanied by massive trading volume has caused market panic to reach a temporary high point. The oversold rebound is a short-term behavior of funds bottom-fishing, and the foundation for a bullish counterattack has not yet solidified.
Overall, the evening still presents a weak rebound + oscillation with a bearish bias. The oversold rebound is unlikely to change the mid-term downtrend, and the height of the rebound will be constrained by resistance levels. Oscillating around the 3050-3080 range, if the 3050 support fails, it will test the new low of 3048 again or even the 3000 level. If bottom-fishing funds continue to pour in, the price may rebound to 3090-3100, but after breaking through 3100, the upward space will be limited, and it is highly likely to return to a downward oscillation.
Operation Suggestions:
Lightly buy in the 3050-3065 range, stop loss at 3040, target at 3090-3100. If it breaks through 3100 and stabilizes, one can look towards 3125 to 3135.
If the price rebounds to 3085-3095 and meets pressure and falls back (such as a bearish candlestick under pressure, upper shadow testing resistance), the trading volume gradually shrinks. Lightly short, targeting 3075-3065. If it breaks the support, look at 3050-3040.
Risk Warning: Cryptocurrency is extremely volatile in the short term. In the evening, attention should be paid to market liquidity and the correlation effect of mainstream coins to avoid heavy positions chasing highs and killing lows. It is advisable to keep the position control within 10%.
