December 19 Evening ETH Market Forecast and Analysis

Bullish Logic and Profit Targets

1. Support Level: The intraday low of 2772.97 forms a strong support, which is the stabilization low point after a short-term decline. There are clear signs of capital absorption. If the price retraces to this support and does not break below, a strong rebound will be triggered.
2. Trend Aspect: The previous upward surge to 2997.05 has not fully released bullish momentum. Currently, the price is stable above 2960, indicating a pullback confirmation after a breakout. There is a possibility of testing the previous high again or even reaching new highs tonight.
3. If the price stabilizes above 2970, the first target is 3000. Breaking the previous high could target 3050, and in extreme market conditions, 3100. If the rally starts near 2900, the target is 3050, with a further look to 3100.

Bearish Logic and Profit Targets

1. Resistance Level: 2997.05 is a short-term strong resistance. Multiple attempts to break higher have failed, and signs of stagnation around 2960 are appearing. Bullish volume is diminishing, which could trigger selling pressure.
2. Technical Aspect: The intraday rally followed by a decline indicates heavy selling pressure above. If the price cannot break 2980 tonight, a double top pattern will form, triggering a technical deep correction.
3. If the price falls below 2950, the first target is 2850. A break below 2800 targets 2750. In extreme market conditions, a breakdown of the support at 2772.97 could see the price drop to 2750.

Key Trading Levels

- Bull Entry: Enter on a rebound and stabilization in the 2930–2950 range, with a stop loss at 2900.
- Bear Entry: Enter on a rejection in the 2980–2990 range, with a stop loss at 3000.
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