$ETH

ETH's recent price performance is really like a blockbuster with ups and downs, and the script is so wonderful! Hurry up and take a look at this wave of analysis——

Bears counterattack, bulls hold on

On December 31, ETH successfully rebounded near the rising trend line, proving that the support area is still solid. But! The long upper shadow on the candle exposes the problem: every time the price approaches the 20-day moving average ($3,460), it is ruthlessly suppressed by the bears, and the selling force is very strong, suppressing the rebound space.

January 3: Dawn is coming

The bulls finally broke out, and ETH broke through and closed above the moving average on January 3! Brothers, this is a strong signal of a reversal! It means that there are buyers actively entering the market below, and the market bullish sentiment has begun to pick up.

Breaking through $3,555 will be the key point to focus on next. Once the bulls stand firm in this position, the bullish momentum may be further strengthened, bringing the price to a higher area.

But don't be happy too soon. If the price reverses and falls below the rising trend line, the bears will not be soft!

Key support: $3,200 is the first line of defense, followed by the psychological barrier of $3,000.

Strong defense zone: Between $3,000 and $2,820, bulls are likely to defend with all their strength, and this area will attract a lot of bargain hunting funds.

Operation suggestions

Short-term opportunities: After standing firm at $3,440 or breaking through $3,555, consider following the trend and pay attention to the next upward momentum.

Retracement layout: If the price falls back to around $3,000, it may be a good opportunity to buy low, but be careful of the risk after falling below $2,820.

ETH's current market is at a critical moment, and both bulls and bears are accumulating strength. The next breakthrough or pullback will be your window to make money, so keep an eye on it!