Pionex: Latest Ethereum Market Analysis on November 7

Article Published on November 7, 2025 - 01:00 AM

Before publication, the current price of Ethereum is 3292. Pionex observes that the current market for Ethereum is temporarily defined as a range oscillation between strong support at 3055 and strong resistance at 4196. The market momentum is weakening, with a bearish trend, but a recent bullish engulfing pattern suggests there may be potential for a rebound in the short term. After significant fluctuations on the daily chart, there is heavy selling pressure above the recent pullback.

The 2-hour candlestick chart shows a clear pressure point at 3400, with some support near the recent low around 3300. The MACD on the 2-hour chart has not crossed bullish, indicating a weakening of bearish momentum, while the EMA trend remains bearish. Pionex believes that a short position at 4450 is effective and can be held for further downside, while opening long positions should be approached with caution, prioritizing safety with a bearish stance.

Short-term Reference Points:

• Short Position Entry: 3400, Stop Loss: 3450, Stop Loss Distance: 50 points, Target: 3300

• Long Position Entry: 3250, Stop Loss: 3200, Stop Loss Distance: 50 points, Target: 3400

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The content of this article is time-sensitive and for reference only; risks are to be borne by the reader.

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