12-20 Afternoon Insights
Current ETH price is running in the range of 2980–2990, overall in a high-level sideways consolidation structure after the previous rebound. From the structure, the price has repeatedly tested the 3010 line without breaking through, indicating that the selling pressure above is still significant, and the short-term bullish momentum is beginning to slow down.
BOLL: The upper band is around 2999, the middle band is around 2974, and the lower band is around 2750. The current price is hovering just above the BOLL middle band with narrow fluctuations, the upper band slightly turning down, indicating that the rebound strength is weakening; the lower band is in a flattening phase, belonging to the consolidation repair trend after a significant decline.
The sideways movement near the middle band + the upper band under pressure structure indicates that the bulls are not strong, and the bears have not restarted, leaning towards a consolidation mindset.
MACD: DIF is still below the zero axis, but is crossing upwards, although the red bars are expanding, the increase is slowing down, indicating that the current situation is more of a rebound repair rather than a trend reversal.
Long Position Strategy (buying on dips)
Entry position: 2945 – 2925
Target position: 2990 – 3020
Stop loss position: below 2900
The area near the middle band on a dip belongs to the support confirmation zone, only buying on dips is allowed, chasing highs is not permitted.
Short Position Strategy (defending against rebounds)
Entry position: 3015 – 3035 (facing pressure from a rebound)
Target position: 2970 – 2930 – 2880
Stop loss position: above 3055
If it effectively stabilizes above 3050, the bearish outlook becomes invalid.
ETH is currently in a sideways repair structure after the rebound, both bulls and bears lack a trend, still focusing on range trading, strictly following the price points, not chasing high or cutting low. $BTC
