On December 24th, Ethereum: MACD death cross 'capped', is a change in Ethereum imminent? Daily line & 4H key positions analyzed

Brothers, Ethereum's daily line closed with some interest, stuck around 2923, slightly down by 0.29%. Don't be fooled by the small fluctuations; the technical structure has already sounded the alarm, let's get straight to the point👎👎

First, let's look at the daily line level, where the MACD death cross has been established, and the key defensive position is here, with the histogram line (-18.25) extending downward. This usually means that the upward momentum at the daily line level has already exhausted, and bears are starting to dominate. The RSI shows weakness: all three lines (6, 12, 24) are in the range of 32-45, indicating that the market is in a weak pattern, but has not yet entered extreme oversold, leaving room for further decline. #CryptoCircle#

Next, looking at the 4-hour level, Ethereum's price is below the short-term moving average (MA5), showing a bearish arrangement, belonging to a weak oscillating downward pattern. Any short-term rebound's primary target is to stabilize at 2940 and attempt to break through 2980. If this position can't be surpassed, the rebound is an opportunity to reduce positions. If the price continues to decline, we need to observe whether a 'slowing down of the decline' signal will form in the 2880-2860 area!

Daily operation suggestions:

Short-term buy near 2815-2785, target 2900-2930

Short-term sell near 2970-3010, target 2850-2880