ETH Price Analysis and Prediction for December 24th

Core Analysis

1. Short-term support confirmation: After a quick rebound from a daily low of 2894.10 for ETH, this level has formed a strong phase support. During the rebound process, buying pressure has gradually increased, and the selling pressure at low levels has basically been released.
2. Clear resistance level: The current price is around 2953.73, with 2960 - 2970 being the previous consolidation area, forming the main short-term resistance; 2930 - 2940 below is the pullback support zone after the rebound.
3. Funds and Rhythm: Intraday sharp declines are irrational fluctuations following short-term capital sell-offs. In the early morning, market liquidity is relatively thin, making it difficult to have a significant one-sided trend, with the main focus on oscillating to digest intraday fluctuations.

Trend Prediction

In the early morning, ETH is expected to oscillate mainly in a rebound within the range of 2930 - 2970, likely consolidating around 2950 repeatedly, with a higher probability of testing the resistance at 2960 - 2970. The likelihood of breaking below the low of 2894.10 is very low. If it breaks above 2970, it may further rise to 2985 - 3015; if it fails to break the resistance, it will maintain a wide oscillation within the range.

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