📣Detailed analysis of Ethereum market trends and trading suggestions for 12/23:
Ethereum fell back 100 points immediately after a surge, and the market has entered a highly volatile state, with constant back-and-forth testing. The overall market is under pressure and moving downwards, with Ethereum synchronously dropping to the lowest point of 2945.
From the four-hour Ethereum price trend analysis, the recent price has formed a fluctuation around 3000, and a long upper shadow was seen on December 22, indicating obvious sell pressure at high levels. The closing price on December 23 was lower than the opening price, presenting a bearish candlestick, showing signs of short-term correction. In the MACD four-hour cycle, both DIF and DEA are trending downwards, and the MACD histogram is in negative territory, indicating that bearish forces are dominant; the daily MACD is gradually weakening, and the trend is biased towards bearish. The RSI for the four-hour cycle is at 45.54, not entering the oversold zone but in a neutral and weak area; the daily RSI has fallen below 50, indicating weakening momentum. In the EMA four-hour cycle, EMA7 and EMA30 have crossed downward, and the price has broken below the EMA7 support, indicating significant short-term pressure; the daily EMA120 still maintains an upward trend, but EMA7 and EMA30 are approaching a death cross, showing an overall weakening trend. The recent trading volume has increased, especially following the spike on December 22 accompanied by substantial selling, indicating unstable market sentiment. The trading volume on December 23 has decreased, reflecting an intensifying wait-and-see sentiment from both bulls and bears.
Trading suggestions for stable returns on Ethereum for 12/23: (short first, then long)
Short first: It is recommended to enter short positions around 2960-2980 for Ethereum, with target levels: 2920-2880-2850.
Then long: It is recommended to enter long positions when Ethereum retraces to the vicinity of 2850-2870, with target levels: 2900-2940-2980; if it breaks above 3000, continue to hold long positions!
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