Ethereum's recent trend needs close attention.

From the timeline perspective, on the weekly chart of December 11th, the 3-day moving average has completed a golden cross below the price. The 2-day and 1-day moving averages are currently forming a bottom pattern, and the key now is to see if the 12-hour chart can retest the structural level.

In the short term, a death cross appears on the 2-3 hour chart, indicating a shorting opportunity at high levels. The 1-hour chart is testing the EMA moving average. Patience is recommended; wait until the 15-minute or 30-minute chart clearly shows a bottom pattern before making any moves.

Resistance levels upward: 3281 is the first hurdle, followed by 3336 and 3374, with strong resistance near 3436.
Support levels downward: holding 3230 is not a problem; if broken, watch 3187 and 3140, with an extreme test at 3099.

Data-wise—
ETH long-short ratio is now 1.13, with a fear index of 29( in a cautious zone). Interestingly, the real trading long-short ratio is 77:23( indicating retail traders are more bullish), but the overall network long-short ratio is 47:53( indicating institutional traders are more bearish). This divergence is worth pondering.

As usual: don’t act rashly before the pattern forms, and don’t set stop-losses or open positions prematurely.

(The above is purely personal observation and does not constitute any investment advice)