#以太坊行情技术解读 December 17 BTC Midday Technical Analysis

Today’s market pattern remains the same old routine—resistance on rebounds, support on declines. Let’s analyze this wave of行情 step by step.

**Technical Perspective**

The daily chart is still within the downward channel since October’s high, with all moving averages in a bearish alignment, and the price firmly below EMA7/EMA30/EMA120. The weekly decline trend remains unchanged. However, recently, the 4-hour chart shows consecutive long lower shadows, and RSI has moved out of the oversold zone, indicating a short-term correction is indeed needed.

Where is the key support? The 85,500-86,000 range is not random—Fibonacci retracement combined with previous lows creates a double resonance. Bulls have defended this area three times, indicating active buyers. Above, the price is tightly capped by the 90,000 psychological level, along with the previous consolidation at 90,500. The downward trendline is also pressing down, making a rebound difficult to sustain.

**Has the signal shifted?**

The daily RSI shows a bullish divergence: the price made a new low, but RSI’s lows are higher—this is a sign that downward momentum is weakening. The 4-hour MACD histogram is shrinking, suggesting early signs of short-term correction, but still below zero. The 1-hour Bollinger Bands are also tightening, waiting for a direction to be chosen. In short, volume has not caught up yet, so strong resistance remains.

**The broader environment**

The Fed’s pause on balance sheet reduction provides liquidity support, but the Bank of Japan’s December rate hike expectations have caused some turmoil in the bond market, making risk assets somewhat pressured. However, the crypto-related sectors in the US stock market (e.g., Hut8 up nearly 4%) are strengthening, showing a clear correlation with BTC, serving as a marginal liquidity buffer.

**Trading strategy**

In the short term, it’s mainly a weak rebound within a downtrend—don’t expect a reversal. "Support holds, rebound lacks strength"—that’s the current rhythm.

If bullish, consider buying at the key support zone of 86,000-86,500, with targets around 87,800-88,000. Strict position control; this is not a bottom-fishing market.

If trading the rebound for a short position (the main theme), enter around 89,500-90,000 resistance, with the first target at 87,500-87,000 on the pullback.

Overall, the core trading range today is between 86,000 and 90,000. Without volume support, consolidation and correction are highly probable, and upward pressure after rebounds still exists. The overall trend of $ETH is consistent with this rhythm, which can be used as a reference.