#数字资产市场洞察 Early morning ETH market overview and short-term assessment

Key support has emerged

ETH quickly rebounded after falling to a low of 2894.10 in the early hours of December 24, and this level has indeed become a clear short-term support. You can see that as it moves upward, the buying pressure has become stronger with each wave, and the selling pressure that had previously driven it down has basically been released.

How to view the upward pressure

The current price is fluctuating around 2953.73. Looking upwards, the range of 2960 to 2970 is a densely traded area that has been tangled with repeatedly before, making it difficult to break through easily in the short term. Looking downwards, the range of 2930 to 2940 serves as natural support for a pullback after a rebound.

Tonight's rhythm

The sharp drop in the early morning can be attributed to the irrational dumping of short-term funds. At this time, liquidity is thin, making a one-sided market unlikely. It is expected that ETH will fluctuate repeatedly in the range of 2930 to 2970, with the highest probability of consolidating around 2950. A breakthrough above 2960 to 2970 is quite difficult, but it is basically unlikely to fall below the low point of 2894.10. If it really breaks through 2970, the next target will be 2985 to 3015; if it gets stuck at resistance, it will continue to oscillate widely within the range.

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