12.15ETH Morning Market Prediction Analysis
ETH experienced a sharp decline in the morning, quickly rebounding after dropping to a low of 3022.51. It has currently risen back to around 3072.54, forming a "V-shaped" recovery pattern. Short-term volatility is significant, with a notable battle between bulls and bears.
Support and Resistance: 3022.51 has become a strong short-term support level, while the range of 3080-3100 above is an important resistance zone. For the price to move higher, it needs to break through this resistance area. The rebound after the sharp decline is a form of oversold recovery, and a clear reversal trend has not yet formed. The sustainability of the rebound needs to be observed. During the downtrend, selling pressure was concentrated, and if the volume during the rebound does not continue to expand, the upward momentum may be restricted.
Short-term Trend: There is a high probability of consolidating in the 3060-3080 range, digesting the sharp decline in the morning. If it can stabilize above 3080, it is expected to test the 3100 level; if the rebound is weak, the price may retrace to around 3050 to retest support. Current market sentiment is highly influenced by short-term sudden factors, and volatility is likely to remain intense, so caution is needed for the possibility of a second decline after the rebound.
Trading Suggestions:
You can consider lightly entering long positions in the 3055 - 3066 range, with a stop loss at 3040 and a target towards 3080 - 3090. If the price encounters resistance and falls back after surging to 3100 (such as when a bearish candle appears with reduced volume), you may consider lightly shorting, with a target of 3075-3065. If it breaks down, watch for 3045-3025.
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