ETH December 22nd Intraday Market Analysis
In the early morning, the short-term Ethereum tends to fluctuate and decline, and the overall drop is not too strong. Therefore, today's intraday short-term analysis approach remains basically unchanged.
From the daily chart perspective, the current KDJ, MACD, and BOLL continue to resonate downwards. The trading volume indicates that today is a phase of decreasing volume (intraday is a small bearish candle, so today's short-term estimate is primarily a downward fluctuation); on the main chart, the current MA5 and MA10 daily moving averages continue to suppress downward, and the increase of the MA30 daily moving average is continuously shrinking. Today's main chart price is also closing below the MA5 daily moving average, showing a red TD6 and continuing to fluctuate downwards, so the intraday trend is still primarily a downward fluctuation.
Looking at the 12-hour level, the current 12-hour line TD9 has not been repaired, and TD9 is stable (because the early morning short-term still fluctuates downwards, which means there hasn't been an interruption and repair of the TD indicator in advance. Based on the current situation, if there is no significant drop before 8 PM tonight, then the current green TD1 will complete the repair. After the update and closing at 8 PM, Ethereum will generate a new red TD1 for short-selling volume, so please pay attention to the risks). In the auxiliary chart, the MACD’s DIF and DEA continue to move downwards, and BOLL continues to open significantly. The opening amplitude of the lower band is the strongest, indicating that there is still room for a short-term decline.
Summary: I personally expect that the overall trend of Ethereum will tend to fluctuate before 8 PM tonight (a slight rebound may occur, mainly to stabilize the current 12-hour green TD1). If the former is confirmed (i.e., no drop before 8 PM), then you can pay attention to the update and closing at 8 PM, as Ethereum and Bitcoin will likely experience another volume decline during this time. Currently, the low support is still referenced in the area around 3114-2900.
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