12.23ETH Afternoon Price Trend Prediction Analysis
From the current candlestick chart, the ETH price peaked at 3043.03 during the day before starting to fluctuate downwards. The decline has continued to expand in the afternoon, hitting a low of 2945.01, with the current quote at 2954.31. Short-term bearish sentiment dominates the market rhythm, and the downward trend is quite evident.
1. Short-term Technical Core Signals
1. Trend and Formation: The hourly candlestick shows a 'peak and fall + staircase decline' pattern, with consecutive bearish candles breaking through key integer supports at 3000, 2980, etc. The moving average system is in a bearish arrangement, and the short-term downward momentum has not significantly weakened.
2. Support and Resistance: The immediate support is at 2950; if it breaks down, it will further test the 2930-2900 range. The near resistance is at 2970, with strong resistance at 3000. A rebound must break through this level to alleviate bearish pressure.
3. Volume and Emotion: During the decline, the bearish candle body has enlarged. Although there has been a slight rebound at low levels, the volume is insufficient, reflecting weak market buying support, and short-term panic selling pressure is still being released.
2. Afternoon Trend Prediction
1. Main Trend: In the afternoon, ETH is likely to weakly oscillate between the 2950-2970 range. If the 2950 support fails, the price will test the 2930-2900 range; if it can stabilize at 2950, a slight rebound may occur, but the height of the rebound is likely limited by the 2970-3000 resistance zone, making it difficult to form a trend reversal.
2. Low Probability Trend: If the overall cryptocurrency market sees a capital inflow or is stimulated by positive news, ETH may quickly rebound back above 3000. However, this scenario lacks technical and capital support, and the probability of occurrence is low.
3. Operational Suggestions
- Short-term Traders: Avoid blindly catching the bottom; wait for stabilization signals at the 2950 support level. If the price rebounds to the 2970-3000 resistance zone, a light short position can be considered, with a stop loss set above 3000.
- Medium to Long-term Traders: Stay on the sidelines until the downward momentum weakens (such as the appearance of a low-level doji or bullish engulfing candlestick) or until it stabilizes above the key resistance at 3000 before considering positioning.
Risk Warning: Cryptocurrency prices are influenced by multiple factors such as macro policies and market sentiment. Technical analysis is for reference only, and strict control of positions and stop losses is required during trading.
