$ETH 12.17 Evening Thoughts on the Aunt
From the high point of 3177, it plummeted to a new low of 2870, with only a rebound to 2927, remaining in a low-level narrow fluctuation, and failing to break through the pressure of the MA144/MA169 moving averages, indicating that the overall bearish trend has not fundamentally changed;
The MA144 and MA169 moving averages form strong resistance above the current price and the upward slope has disappeared, with small bodies in the fluctuation candles, indicating a lack of upward persistence from the bulls;
Around 2870, there is only short-term bottom-fishing funds causing a weak rebound, with heavy selling pressure above 3000, and no large-scale bullish funds entering the market, leaving the bearish sentiment unrelieved.
Trading suggestion: Short near 2980-3030, target: 2880, 2830
