December 16 Ethereum (ETH) Evening Market Overview (20:20, UTC+8)

• Key Conclusion: Bears dominate, weak downward trend, short-term focus on shorting during rebounds, strict risk control.

• Current Price: Approximately $2930-2940, 24-hour decline of about 6.15%, intraday low reached $2892, has fallen below the $3000 whole number mark.

• Market Sentiment: Approximately $603 million in liquidations across the network in the last 24 hours, with long liquidations accounting for over 83%, panic sentiment is rising.

Key Support and Resistance

• Support Levels: $2900 (near intraday low), $2830 (Bollinger Band lower track), $2960 (intraday key support, already broken).

• Resistance Levels: $3000 (whole number mark), $3050-3080 (short-term rebound pressure), $3130 (previous fluctuation high point).

Technical Analysis (4-hour/1-hour)

1. Trend: Price closely adheres to the Bollinger Band lower track, moving averages in bearish arrangement, insufficient bullish momentum.

2. Indicators: MACD dead cross below the zero axis, bearish momentum still being released; KDJ enters the oversold zone, with slight rebound demand but difficult to change the weak trend.

3. Patterns: Weak rebound, obvious downward oscillation structure, beware of breaking down further.

Trading Strategy (Short-term)

• Main Strategy: Short at the $2950-2980 range during rebounds, stop loss at $3010, target $2850-2830.

• Auxiliary Strategy: If $2900 stabilizes and rebounds quickly, can take a small position to bet on a short-term long, target $2980, stop loss at $2870.

• Risk Control: Position not exceeding 20%, strict stop loss, avoid counter-trend bottom fishing.