December 2 - Evening Market Analysis and Trading Suggestions

Current ETH around 2745, Ethereum today experienced a second round of sideways volume decline, with the U.S. stock market struggling to rebound and failing to catch high-position short positions, dropping from around 2850 to 2718 after the market opened. This is the second round of volume decline following the daytime crash, breaking through last week's support, clearly belonging to the bearish release phase. There is a slight technical repair space in the short term, but the overall trend still leans bearish.

Market Rhythm: Downward break of support, lower track oversold, preparing for a pullback.

BOLL: Upper track at 3106, middle track at 2904, lower track at 2701; the Bollinger Bands continue to open downward, with prices breaking below the lower track twice and then showing a brief rebound, indicating that the market is in a strong downward channel. Currently, the lower track support level of 2700–2720 has become a key support point. If this area is broken, further support will be sought, potentially looking at the 2650–2620 range. If it stabilizes, a rebound to the 2800–2840 range is expected.

To summarize: Breaking the lower track and oscillating, short-term signs of stopping declines have appeared, but the trend has not reversed.

Long Positions

Entry Points: 2705–2680

Target Levels: 2780–2830

Stop Loss Position: If it breaks below 2655, consider exiting directly.

Short Positions

Entry Points: 2830–2850 facing resistance on the rebound

Target Levels: 2760-2710

Stop Loss Position: If it breaks through 2870 with volume, consider stopping loss and exiting.

ETH accelerates downward after entering the oversold zone, with short-term repairs but not altering the bearish trend. The operation focuses on low long positions to gamble on rebounds and high short positions to prevent losses, with a key range of 2690–2850.

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