12.12 Ethereum Market Analysis and Trading Strategy Reference:

Ethereum closed with a large bullish candle, and the closing price broke through the middle band of the daily Bollinger Bands, but the pressure from the death cross formed by the daily moving averages has suppressed the market, preventing a second breakout in the short term. Currently, the short-term top pressure still exists around 3850, and before the market completely breaks through and stabilizes, there is still a possibility of further pullbacks, which needs to be noted.

Looking at the short term, the bullish trend on the four-hour chart is still relatively strong, and there shouldn't be much issue in continuing to look bullish in the future. However, in the short term, it is similarly constrained by the upper trend pressure at 3850, and a pullback is expected in the near term, with a higher likelihood of falling first before rising.

In summary: The intraday market is biased towards bullishness, but short-term pressure is heavy. If going long, one can consider buying on the intraday pullback around 3710-3690 with a small stop loss. Pay attention to the pressure level at 3850; if it does not break, it will not stand. If broken, the bullish trend could continue to around 3930-4030.