ETH12.10 analysis

ETH is currently fluctuating in the 3310-3330 range, although the bull dominance pattern has not changed, but the short-term momentum and point game have intensified, and the long and short signals are differentiated.
After rising to 3397 during the day, it fell rapidly, and the high shock characteristics were significant, which belonged to the healthy correction after a strong rise, which not only digested the early profit order, but also accumulated strength for the subsequent direction. The daily four consecutive yangs laid the foundation for the bulls, the price stood firm at the key moving average, and the medium and long-term upward trend was not impacted, but the short-term has broken away from the rapid upward rhythm and entered a period of long-short games.
The Bollinger Band opened upwards, and the price ran near the upper band (3347), clarifying the short-term and medium-term bullish trend. The 3300-3310 range is the core support of the current shock, and it is also a key defensive position near the upper track, and the upward attack on the 3350-3400 resistance area (intraday high + upper edge of the upper band) is sufficient; If it falls below 3300, there is a high probability that it will step back in the direction of the middle track (3153) to confirm the support.
The MACD momentum high red bar continues to shorten, DIF and DEA form a slight divergence, and the bull momentum is decaying, which is a short-term risk warning signal. If the subsequent volume cannot break through the 3350 suppression, MACD is very likely to form a death cross, triggering a short-term adjustment; On the contrary, if the volume stands above 3400, the momentum is expected to be activated again and continue the upward trend.

The current core contradiction lies in the balance between "trend strength" and "kinetic energy attenuation", and the essence of shock consolidation is to wait for the confirmation of quantity and signal. Coupled with the approaching Fed's interest rate cut decision tomorrow, the market wait-and-see sentiment is heating up, and there is a high probability that it will maintain a range shock in the short term, and a new round of clear trend will be started after breaking through or falling below the key point.
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