Cryptocurrency Market Analysis: Short positions dominate on December 23! Investment advantages of Ethereum should be approached with caution! Latest market analysis
Article published on December 23, 2024 ---- 06:10
Current price of Ethereum is 3270. First, let's analyze the price trend. You can see that the current candlestick pattern is in a clear downtrend, especially following significant declines on the 20th and 21st, with market sentiment leaning bearish. In the 4-hour cycle, the price has been repeatedly blocked around 3300, forming a short-term resistance level, indicating effective bearish momentum.
Technical indicators MACD currently show both DIF and DEA are negative, but the gap is narrowing. The MACD histogram has turned from green to red, indicating that downward momentum is weakening, and a rebound may occur. The Relative Strength Index (RSI) is at 36.1, close to the oversold range, indicating the possibility of a technical rebound.
The trend indicator EMA7 is below EMA30 and is far below EMA120, showing that short, medium, and long-term trends are all bearish, and the overall trend remains bearish. Trading volume has decreased in the recent trading sessions, indicating an increase in market wait-and-see sentiment. The previous sharp decline was accompanied by high trading volume, indicating heavy selling pressure, and temporarily, short positions are in control. Therefore, in terms of strategy, I suggest focusing on short positions at resistance levels and considering long positions at support levels.
Today's latest reference points
Long entry at 3250, add at 3200, stop at 3150, target at 3400
Short entry at 3400, add at 3450, stop at 3500, target at 3250
The above analysis is based on market data and candlestick trend analysis and does not constitute investment advice. For family members' reference.