ETH down!

19 ธ.ค. 2022

After the CPI was announced last week, ETH broke through the consolidation range and experienced a short-term rise, but it did not break through. You can see the circled area in the chart, after ETH tested the resistance trend line for the second time, it fell sharply.
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The current price rebounded near the previous low of 1150.09. Yesterday's daily chart showed the pattern of upper and lower shadow lines of equal length, indicating that the strength of the long and short positions is equal, and there is no clear direction yet.
If there is a short-term price rebound, you can pay attention to the resistance near 1220.
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Judging from the current situation, ETH has a greater chance of continuing to go down after consolidating around 1150.09 for a period of time.
You can pay attention to the trend line support below and 1080.00. If it falls below, ETH still has a chance to reach 879.80~1000.00 again.
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Under the current circumstance, the market should have almost digested the FTX incident. Because the last time the price fluctuated greatly was the inflation-related news such as CPI and FOMC. If FTX or similar things do not cause more trouble, I believe that the relevant news will not have a greater impact on the market.
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