Ethereum tests key support after a washout, short-term upward potential is promising!
On December 19, market fluctuations in the early morning brought about a washout, with Ethereum breaking below the 3800 support and testing the 3500 area again. Technically, Ethereum received strong support around 3540 and rebounded, which happens to be near the EMA200, showing clear support effects. After a brief dip, the market quickly rebounded and returned to that range. Next, the 3500 line will be the key short-term support; if the K-line entity breaks, the strategy needs to be readjusted; otherwise, continue to monitor the gains and losses at this line.
The upper 3800 area, previously a support level, has now turned into a short-term resistance level. If it breaks through and stabilizes above this area, short-term strategies can be adjusted accordingly. Overall, in the short term, we are optimistic about Ethereum's oscillation upward trend in the 3500-3800 range, and it is advisable to operate cautiously based on support and resistance levels.
Short-term suggestions for December 19:
If 3800 does not break, short in the 3780-3750 range, target 80-120 points. If 3540 does not break, long in the 3590-3560 range, target 80-150 points.
The above suggestions are for reference only; please ensure proper risk management.
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