12.16 Afternoon ETH Price Trend Forecast and Analysis

Based on the intraday K-line chart, ETH price initially shows a volatile downward trend, dropping to a daily low of 2871.9 at midday, then quickly rebounding to around 2921.59. In the short term, it is likely to oscillate weakly within the 2920-2940 range. Since the rebound from the low lacks sustained volume support and has not broken through a key resistance zone, both bulls and bears are temporarily in a state of equilibrium. Without external capital or news stimuli, it is unlikely to break out of a single-sided trend.

The deep V-shaped intraday rebound only indicates that short-term bottom-fishing funds entered briefly at low levels, not a trend reversal signal. In the afternoon, attention should be paid to the continuation of ETH spot buying and changes in futures long and short positions. If bottom-fishing funds exit and short positions increase, the rebound will quickly encounter resistance; if capital continues to flow in, it may push the price through the resistance zone.

Trading Suggestions:
Short at 2965-2955, target 2915-2900
If trading volume increases in the afternoon and the price stabilizes above the 2970-2975 range, it will attempt to break through the 2995-3025 range, and the rebound momentum is expected to continue. If it continues to fall below 2900, the target is 2875-2850.
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