12.19 ETH Afternoon Trend Forecast and Analysis

From the current candlestick chart, ETH dipped to a low of 2772.08 in the early session and then began a strong rebound. In the afternoon, it broke through the key resistance level of 2950, indicating a clear short-term bullish trend with strong buying interest.

Core Support and Resistance

1. Support Levels: The primary support in the afternoon is at 2920, which has been a stable point during multiple rebounds. If the price pulls back but does not break below this level, the upward momentum can continue. A stronger support below is at 2900, a critical breakout point during the morning rebound. If this level is lost, the rebound strength may significantly weaken.
2. Resistance Levels: Short-term resistance is focused on the 2980-3000 range. The intraday high of 2997.18 marks a temporary peak, and 3000 is an important psychological milestone. If this level is effectively broken, the upward space will further open; if the price faces resistance in this range, it is likely to enter a consolidation phase.

Trend Forecast

1. If the price maintains above 2950 with sideways movement and volume increases, bulls will continue to test the 2980-3000 resistance zone, and a break above 3000 could lead to an attempt at higher levels.
2. If resistance is encountered near 2980 and the price pulls back, it will likely oscillate within the 2920-2980 range, waiting for the battle between bulls and bears to re-establish.
3. If the 2920 support is broken, the price may retest the 2900-2880 area, with a need to watch for the risk of a reversal in the rebound trend.

Trading Suggestions

- Bullish: Follow the 2920 support with a small position, set stop-loss below 2900, and target 2980; after breaking 3000, consider adding positions, aiming for 3020-3050.
- Bearish: Only attempt short positions in the clearly pressured 2980-3000 zone, with a stop-loss above 3000, and target 2950-2920. If the 2920 support is lost, the price may retest 2900-2880.