December 12 Ethereum Midday Market Observation:

$ETH retraced from the high of 3446, and the market has entered a correction and consolidation phase. The current pace is moderate, and the direction remains uncertain. Let’s look at the performance across different timeframes:

**4-Hour Chart**: In correction, with obvious resistance overhead. A weak rebound occurred after the decline, with moving averages converging in the 3320–3350 range, indicating solid resistance. The MACD is close to zero without much momentum; to break above 3350 and enter a trending phase, energy needs to continue accumulating.

**1-Hour Chart**: Mainly sideways. Price fluctuates around EMA, with both MACD and KDJ signaling consolidation — a typical "wait-and-see" stage, with no decisive short-term direction.

**15-Minute Chart**: Short-term weakness and signs of a pullback. Buying momentum is weak, KDJ shows a death cross, and on small timeframes, it tends to decline towards 3220–3230.

**Core Judgment**:

$ETH is currently stuck in a consolidation and correction zone between 3220–3320. A genuine reversal to strength would be confirmed by a break above 3350.

Three potential trend probabilities:
- Strong reversal (35%): Break above 3350 → target 3420–3500
- Continuation of consolidation (45%): Fluctuation within 3220–3320
- Downward extension (20%): Break below 3180 → watch 3150/3090

**Trading Strategy**: Consider small long positions around 3220–3230, but avoid chasing longs above 3350. If it breaks below 3180, exit entirely. Do not heavily leverage until the trend is clearer.