December 9th Daily Market Analysis for Two Cakes
ETH is currently stuck in a key resistance zone in the short term, with the bullish structure still stable, but upward momentum is clearly weakening. The overall direction remains bullish, but we need to wait for a valid breakout to clarify the next steps.
The MACD continues to show red bars, with the DIF pressing the DEA upwards, indicating that the bullish trend is still ongoing, but there is a lack of further volume signals. It's best to wait for a breakout point before taking action.
From the 4-hour chart: Bullish energy is waning, but it remains above the zero axis, and the short-term trend looks more like a high-level consolidation.
1-hour chart: The Bollinger Bands are narrowing, with prices running above the middle band. There is heavy selling pressure above, and the upward speed is slowing, maintaining a slightly strong structure with minor fluctuations.
Short-term trading suggestions:
Long positions to watch: Buy on dips near 3050
Short positions to watch: Sell high in the 3150–3170 resistance zone
Currently, the technical analysis has not provided a clear direction. The 3170 resistance and 3050 support remain key. Before these two zones are broken, it is not advisable to take heavy positions; maintain a light position.
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