#ETH走势分析 ETH on December 7—honestly, it's pretty conflicted. The price is just hovering in the narrow range between $3,026 and $3,050, just like BTC, with 24-hour trading volume cut in half, and the whole market is quiet and deserted. Everyone is waiting for moves from the Fed, and the wait-and-see sentiment is especially strong.

Bulls and bears are at a stalemate right now. Looking down, $3,000 is definitely a solid psychological support, with the 20-day moving average around $2,988 providing backup, and on the 2-hour chart, there’s support in the $3,040–3,050 range. But to move up, $3,070 is the first hurdle, and the real breakout will depend on whether it can hold above $3,200, with a higher ceiling in the $3,350–3,400 area.

Technical indicators are giving mixed signals: MACD looks like bullish momentum is building, but the 2-hour trend is clearly weak, and there's a pattern similar to an evening star on the daily chart—which usually isn't a good sign and could mean a short-term pullback. But here's something interesting: the ETH/BTC rate has broken above its downtrend line, so maybe some capital is shifting from Bitcoin to ETH?

Derivatives market data is pretty wild: futures open interest has soared to $60 billion, with the long-short ratio over 2.5, showing a clear advantage for the bulls. But options trading volume has dropped 23%, so people prefer trading futures. Weekend liquidity is already thin, so keep an eye out for any action tonight.

By the way, the recent Fusaka upgrade did boost network processing capacity, but it hasn’t provided much short-term price support. In the long run, though, it’s laid a solid foundation for the ecosystem.