ETH December 12 Market Analysis
From a daily perspective, the KDJ and MACD indicators are currently oscillating near the midline, and the BOLL is slightly trending upwards; the main chart MA5 and MA10 continue to oscillate strongly, while the low point MA30 continues to suppress downward movement. Compared to yesterday, today's technical changes are not too significant. However, the originally bearish sentiment of Ethereum is supported by the moving averages, and on the other hand, the reduction in short positions for Bitcoin has also led to a noticeable increase in Ethereum's strength compared to yesterday. At the moment, I personally lean towards a continuation of the downward pullback after failing to break through the pressure from the day before yesterday, but the bullish strength has clearly increased. Therefore, there is a possibility of a second upward test against strong resistance in the short term. In summary, as long as the upward pressure between 3470-3550 cannot be effectively broken, the subsequent movements will continue to experience pullback under pressure.
From a 12-hour perspective, KDJ and MACD have shown a decrease in bullish momentum, and BOLL has narrowed (indicating that the short-term market will enter a consolidation phase); the main chart's MA5 daily moving average is turning down and applying pressure, while MA10 is oscillating strongly, and the increase of the low point MA30 has diminished. Overall, Ethereum is primarily moving within a sideways box pattern today, and the narrowing of BOLL also indicates that today's market volatility will not be too large.
Summary: For the short-term intraday forecast, the market is expected to oscillate around 3250 with a range of about 50 points up and down. My view is that after the oscillation is completed, Ethereum will still connect to yesterday's downward oscillation, with the first support level still referenced around 3000. Today's volatility is not too large, so let's keep it here for now and wait for tomorrow's intraday market analysis thoughts to be updated.
The above is my personal intraday market analysis for your reference. $ETH
