12.15 ETH Morning Market Forecast and Analysis

ETH experienced a sharp decline and bottoming out early this morning, with the price dropping to a low of 3022.51 before quickly rebounding. It has now recovered to around 3072.54, forming a "V-shaped" recovery pattern. Short-term volatility is intense, and the battle between bulls and bears is prominent.

Support and Resistance: 3022.51 has become a short-term strong support level. The 3080-3100 range above is an important resistance zone. To move further upward, the price needs to break through this zone. The rebound after the sharp decline is a typical oversold correction and has not yet formed a clear reversal trend; monitoring the persistence of the rebound is necessary. During the decline, selling pressure is concentrated, and if the rebound volume cannot be sustained and expanded, upward momentum may be limited.

Short-term Trend: The market is likely to fluctuate and consolidate between 3060-3080, digesting the early sharp decline. If the price can hold above 3080, it may attempt to test the 3100 level. If the rebound is weak, the price could fall back to around 3050 to test the support again. Currently, market sentiment is heavily influenced by short-term sudden factors, and volatility will remain intense. Caution is advised for the possibility of a second dip after the rebound.

Trading Suggestions:
Consider entering a long position with a light position between 3055-3066, with a stop loss at 3040. Target the range of 3080-3090. If the price pushes above 3100 and faces resistance (such as a bearish candle or shrinking volume), a small short position can be taken with a target of 3075-3065. If broken downward, look for 3045-3025.