Cryptocurrency trading is a long-term plan; it is not about achieving results overnight, so one should not be overly anxious. Even if there are short-term losses, there is nothing to fear. As long as the subsequent direction is chosen correctly, what has been lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to improve the win rate. At the same time, investing is also a process of growth. Mr. Coin advises all cryptocurrency friends to learn while trading, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
11.11 Ethereum (ETH) Market Analysis Reference
Although Ethereum broke through the resistance at 3660 yesterday after gathering strength, it did not continue to rise much due to the influence of the overall market, and subsequently, it retraced all the gains, with the price falling back to support. Currently, it has touched the low at 3505 and is showing a rebound. The support from yesterday was not broken; it just shows a weakened upward momentum. Therefore, unless the upper resistance is broken, it is not recommended to blindly follow long positions, as there is a risk of short-term rebounds leading to high-level trapped positions.
On the daily chart, yesterday ended with a doji star, indicating that both bulls and bears are in a stalemate. Currently, the price is hovering within a range without breaking out, and it is expected that the fluctuations will continue for some time. The strategy is to think high for short positions and low for long positions. Pay attention to the resistance around 3630 above and the support around 3500 below, followed by 3485. If there is a subsequent pullback, consider entering long positions.
11.11 Ethereum Short-term Reference:
Short positions can be lightly tested at 3615-3675, with a stop loss of 30 points and a target below 3570.
Long positions can be tested at 3461-3511, with a stop loss of 30 points and a target above 3550.
There may be a delay in sending the article; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to manage take-profit and stop-loss levels properly. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin Discusses Currency) for ways to add: the first ten each day can receive free exit strategies.
For more real-time trades, you can follow my public account for online technical learning, exit strategies, etc. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied in the U.S. multiple times, mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. For those who are unsure about trading, you are welcome to study and learn together.
Exclusive opinions, there may be a delay in sending the article, risks are borne by oneself, and it is important to control positions reasonably. Do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep pushing. In the depths of time, hold onto understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your present self. We live authentically, but not every data revelation needs to be taken too seriously. Let the past be the past, and let the future come quickly! Take good care of yourself, prepare well, and be ready to set off at any time. Keep going!
—— This article is written by Mr. Coin from the cryptocurrency circle, no plagiarism, respect originality!
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