12.11 Evening Ethereum Outlook

From recent technical movements, Ethereum surged and then formed a cliff-like drop plus a low-level consolidation pattern. The 1-hour K-line failed to recover the previous decline zone, indicating a typical weak rebound. The key resistance levels of 3186-3200 have turned into strong resistance. Repeated attempts to break through have been blocked, while the critical support levels of 3100 and 3000 face severe tests. If breached, it will open further downside space. Additionally, the previously watched inverse head and shoulders bullish pattern has been broken, and the short-term technical structure is entirely bearish.

Ethereum is recommended around 3210 and 3250, with a target of 3100. If broken, it can continue to look down towards the 3000 level.