December 8 - Night Market Analysis and Trading Suggestions

Current ETH price is around 3016. After failing to break through the sideways movement, ETH experienced a rapid decline, dropping from around 3045 to 2903 in a short period, and then rebounding back above 3000. The K-line shows a bearish closing, indicating certain support below, but there is also significant pressure from bears above, as the market enters the "bottom support confirmation stage."

BOLL: The upper band is at 3077, the middle band is at 3035, and the lower band is at 2993. The Bollinger Bands are widening, and the market is experiencing a volume-driven decline. After breaking the lower band, there was a quick rebound, and it is currently operating below the middle band. In the short term, prices are fluctuating above the lower band. If it breaks below 2990 again, the downward space will open further. If it can regain the middle band at 3035, there are signs of a short-term recovery and rebound.

ETH Long Position

Entry Point: Support near 2945 - 2970

Take Profit: 3020 - 3050

Stop Loss: 2930, if broken, consider exiting directly.

ETH Short Position

Entry Point: Rebound resistance at 3040 - 3060

Take Profit: 3000 - 2980

Stop Loss: 3080, if broken, exit directly.

ETH short-term bottom probing and rebound, 3000 is a key support level. If it stays stable, expect a rebound and rise; if broken, expect continued decline. Note that you can rest earlier in the evening to recharge for the new week. 👍