In the short term, the market is dominated by bearish features, with significant capital outflows combined with a breakdown in price trends. The downward momentum will continue to be released. Unless there is a major positive catalyst or large-scale capital inflow to support, the price will continue to test lower support levels, potentially triggering a new round of accelerated decline.
Ethereum is recommended around 2850, 2880, with a target of 2720.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
12.18 Ethereum Morning Thoughts
In the short term, the market is dominated by bearish features, with significant capital outflows combined with a breakdown in price trends. The downward momentum will continue to be released. Unless there is a major positive catalyst or large-scale capital inflow to support, the price will continue to test lower support levels, potentially triggering a new round of accelerated decline.
Ethereum is recommended around 2850, 2880, with a target of 2720.