December 11th ETH Strategy Analysis

Support Levels: 3215, 3091

Resistance Levels: 3444, 3593

If it does not drop below 3215, one can go long, add positions at 3091, with a stop loss in place, first take profit at 3444, second take profit at 3593. If it does not break above 3444, one can go short, add positions at 3593, with a stop loss in place, first take profit at 3215, second take profit at 3091.

ETH 4-hour chart, currently in a pullback after touching the upper Bollinger Band, the three Bollinger Band lines are trending upwards, corresponding prices: 3069, 3324, 2813, the 1-hour chart's middle Bollinger Band line is trending downwards, with the opening widening.

The 4-hour chart's short-term moving average ma5 is turning down, crossing below ma30, ma10 is trending upwards, ma30 is turning down, and the market is operating below ma30; the hourly chart's short-term moving average ma5 is trending downwards crossing below ma10, ma10, ma30 are trending downwards, and the market is operating below ma5.

MACD 4-hour chart above the 0 axis, fast line is turning down, bullish momentum is weakening, the hourly chart shows dual lines descending above the 0 axis, bearish momentum is strengthening.

RSI indicator on the 4-hour chart is in a normal trading phase with dual lines descending, corresponding values are 44, 62; the hourly chart is in an overbought trading phase with dual lines descending, corresponding values are 0, 1.