12.23
The trend in the Ethereum market remains weak, and the high short strategy for Ethereum remains unchanged.
Looking back at yesterday's market, the trading was minimal until the early morning when some movement occurred. Ethereum attempted multiple upward movements yesterday but failed to break through successfully, dropping directly from a high of 3077 to 2961 in the early morning, a drop of over 100 points, indicating that the overall market still leans towards bearish sentiment.
On the four-hour level, the BTC price is currently experiencing narrow fluctuations around the middle band of the Bollinger Bands, with multiple attempts to rise being met with resistance and pullbacks. Although there were brief rebound movements, the trading volume continues to be sluggish, and the rebound strength is weak, with the overall trend lacking upward momentum support.
On the hourly level, the Bollinger Bands have completed a downward closing pattern, and after the MACD indicator formed a death cross, the volume characteristics are significant, indicating that bearish momentum is gradually being released. The high short strategy for the day remains unchanged.
Ethereum is focusing on rebounds around 3057 and 3020, targeting 2960 and 2900.
