$ETH 12.16 Afternoon Auntie Thoughts
From the high point of 3272, it has significantly dropped to a new low of 2870, with a rebound only reaching 2939, which is a weak correction after an oversold condition, failing to break through the pressure level converted from the moving average support;
The MA144 and MA169 moving averages form strong resistance above the current price, and with the moving averages turning downwards, the K-line entities are small and the volume is weak during the rebound, indicating a lack of upward momentum for bulls;
Around 2870, there are only sporadic bottom-fishing funds triggering a brief rebound, while selling pressure is dense above 3000, and there is no large-scale bullish capital entering the market, with bearish sentiment still not alleviated.
Operational suggestion: Short near 2980-3030, target: 2880, 2830
