Waves rise and strange clouds move, the cold night reflects the starlight. Hello everyone, I am Lang Han 😘. Today is December 30, 2024, and ETH has entered a critical period of whether it can start to rise. I hope to provide some useful analysis information.
👉 First, let's look at the overall situation from the daily chart. The fluctuations in the past few days have not been large. The lack of volume during the decline and pullback indicates weakness in the future. If you are shorting at a low position, it would be prudent to cut losses and exit early. Overall, each decline's bottom is higher than the previous one, and it is still oscillating between the second test and oversold range. Currently, what is lacking for a bullish situation, in my view, is a bit of volume.
👉 Looking further from the hourly chart, there is a hint of some 'strong emergence' from Wyckoff Phase D. The current decline volume is also gradually shrinking, and whether the downtrend can continue is questionable. If the price can maintain above the blue line, I believe there should be at least 100 points of profit space.
Therefore, those who want to operate should not rush. Let's see if the support at the blue line is strong enough!!!
