Ethereum December 12 Short-term Key Node Analysis
Yesterday's Market Review
In yesterday's trading in the cryptocurrency market, both BTC and ETH exhibited significant price fluctuations. For Bitcoin, the price low reached 95,650, while the high climbed to 101,880, with an intraday fluctuation of 6,230, resulting in a fluctuation ratio of approximately 6.5%. Ethereum's performance was also notable, with prices fluctuating between 3,562 and 3,846, a fluctuation of 284, and a fluctuation rate as high as 8.0%.
Today's Market Analysis
Currently, Bitcoin's price is at 101,500, having successfully risen above 100,000 again after a drop the day before. Its price trend is gradually returning to a normal upward trajectory. If it can stabilize at the 100,000 level, the possibility of further increases will significantly rise. From a short-term perspective, its support level is set at 98,700, and investors may consider positioning long positions in this support area. The short-term resistance level is at 105,000.
Regarding Ethereum, the current price is 3,875, which is nearing the resistance level of the downward channel at 3,900. At this moment, closely monitoring its price movements in this resistance area is crucial. If there are significant signs of a pullback, it indicates that it is still in a downward channel, with the first retracement target set at 3,700. Conversely, if it can successfully break through the downward channel, the subsequent resistance level will rise to 3,960. The short-term resistance level for Ethereum is 3,960, while the short-term support level is 3,750.
