December 20th Early Morning ETH Market Forecast and Analysis

In the early morning, ETH will move within a narrow range with a quick impulsive move after breaking key levels. The core fluctuation range is expected to be 2950–3000.

Bullish Logic

Support Level: The price has tested the 2960 level multiple times intraday and found support each time. This level becomes an immediate strong support. If the price revisits this support in the early morning without breaking below, combined with light trading volume during the quiet early hours, it will trigger a rebound.

Trend Perspective: The bullish trend from December 19th, rebounding from 2772.97, has not been fully exhausted. Currently, the price staying above 2960 indicates high-level consolidation and accumulation. There is a possibility of testing the 3000 round number and the previous high of 3017.99 in the early morning.

Bearish Logic

Resistance Level: The 3000 round number combined with the previous high of 3017.99 forms a double strong resistance. Multiple attempts to break through during the day have failed. In the early morning, the bullish momentum is likely to further weaken, which could trigger technical selling pressure.

Technical Perspective: During high-level consolidation, the K-line shows a “push higher and fall back” pattern. If the price cannot break above 2980 in the early morning, a short-term divergence will form, triggering a correction.

Key Trading Levels

Bull Entry: Rebound and stabilize around 2950–2960, with a stop loss at 2930. If the price holds above 2980, the first target is 3000; breaking the previous high of 3017.99 targets 3030, and in extreme cases, 3100. If the rally starts near 2950, target 3000, with a potential extension to 3020.

Bear Entry: Rebound faces resistance between 2975–3000, with a stop loss at 3020. Targets are 2935–2920. If the price falls below 2920, the first target is 2900; if it breaks below 2900, then 2850. In extreme cases, a breakdown of support at 2960 could lead to a drop to 2800.