December 24 ETH Price Analysis and Forecast
Core Analysis
1. Short-term support confirmed: After a quick rebound from a low of 2894.10, this point has formed a strong support level, with buying pressure gradually increasing during the rebound, and the selling pressure at low levels has basically been released.
2. Clear resistance level: The current price is around 2953.73, with 2960 - 2970 above being a dense area of previous fluctuation, constituting the main short-term resistance; 2930 - 2940 below is the retracement support range after the rebound.
3. Capital and rhythm: The sharp drop during the day belongs to irrational fluctuations after short-term capital selling, and market liquidity is relatively thin in the early morning, making it difficult to see a significant one-sided trend, mainly digesting the day's fluctuations through oscillation.
Trend Forecast
In the early morning, ETH is expected to oscillate with a bias towards a rebound in the range of 2930 - 2970, likely consolidating around 2950 repeatedly, with a higher probability of testing the resistance at 2960 - 2970, while the likelihood of breaking below the low of 2894.10 is very low. If it breaks above 2970, it may further test 2985-3015; if it fails to break the resistance, it will maintain wide oscillation within the range.
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