As of 11:30 on December 18 (UTC+8), ETH is approximately $2820. The daily chart is dominated by a bearish trend, with weak rebounds during the 4-hour oversold condition. Overall, the volatility is weak and oscillating, linked to BTC. The main strategy is to short on rebounds and take light long positions at low levels.

Core Price Levels and Key Multi-Period Support/Resistance

• Daily: Support at 2780/2700; Resistance at 2900/3000-3050 (strong resistance)

• 4-Hour: Support at 2825/2780; Resistance at 2950-2956/3000

• 2-Hour: Support at 2800; Resistance at 2880-2900. Bollinger Bands are narrowing, increasing the likelihood of range-bound oscillation.

Multi-Period Technical Analysis

• Daily: MACD shows a death cross, KDJ is trending downward and diverging, Bollinger Band middle line is pressing down, indicating continued bearishness; price has broken below short-term moving averages with no clear signs of stabilization, rebound is weak.

• 4-Hour: RSI around 28 (oversold), MACD shows bottom divergence with decreasing volume, indicating weak rebound potential; EMA15 faces strong resistance at 2956, with the lower Bollinger Band at 2825 serving as immediate support.

• 2-Hour: Volume is shrinking, price oscillates below the middle band, awaiting a breakout; watch whether it can break above 2880-2900, which will determine the strength of a short-term rebound.

Technical Signals and Structural Highlights

1. Trend: Daily is in a downtrend channel; 4-hour is oversold but shows no clear reversal signal; 2-hour awaits a breakout.

2. Volume: Trading volume in the past 24 hours has decreased compared to previous days, indicating insufficient rebound momentum. A volume breakout is needed for sustainability.

3. Divergence: 4-hour MACD shows bottom divergence, suggesting a possible rebound, but at a minor level. Confirmation requires price to break above 2900.

4. Correlation: BTC is oscillating between 85,000 and 87,500. Its directional move significantly influences ETH.

Actionable Trading Strategies (with stop-loss)

1. Rebound Short: Short at 2950-2970, stop-loss at 3000, target 2890-2850; if broken, look for 2800-2780.

2. Pullback Long: Light long positions at 2780-2800, stop-loss at 2750, target 2880-2900; if broken, target 2950.

3. Breakout Strategy: Volume breakout above 2950, then retest at 2920 to go long, stop-loss at 2880; volume breakout below 2780, then rebound at 2800 to go short, stop-loss at 2830.

Risk Management Points

• Position size ≤30%, always include stop-loss to avoid extreme volatility.

• Prioritize short positions on rebounds; low-level longs should be light and quick in/out.

• Closely monitor BTC's breakout direction in the 85,000-87,500 range, as it will influence ETH trading rhythm.