Zhang Lihui, edited at 2:10 AM Beijing time on November 12: Ethereum market analysis and trading suggestions:
In the 4-hour chart, the Bollinger Bands are opening downwards. The daytime market failed to test the daily MA15 (the screenshot point from yesterday was 3667) for the second time and retreated as expected. In the evening, the market further broke below the EMA30 and directly fell below the MA30, with the bearish momentum once again dominating the market. Currently, all three lines of the Bollinger Bands at this level are in a downward shape. The MACD shows an increase in volume below the 0 axis, and the fast and slow lines have formed a death cross. It seems that the fourth wave rebound has been terminated. The KDJ three lines are spreading downwards, approaching oversold territory, and the RSI three lines are also trending downwards, nearing 30, indicating that the downward space has not yet been exhausted! Lihui suggests focusing on short positions during short-term rebounds today, paying attention to the resistance at the 4-hour EMA30 and the middle track; if it does not break, consider shorting!
For support below, continue to watch the daily EMA300 and the 3400 level for support, with a defense set below the low point of the 9th. The current level of the Bollinger Bands is continuing to close, with the upper track being heavily pressed down, indicating that the upper space is being compressed and becoming narrower. The MACD shows a contraction in volume close to the 0 axis position, with the fast and slow lines slowing down in convergence. The KDJ three lines are also slowing down in their upward movement, and the RSI three lines are turning down as they approach the 50 position. It seems that forming a golden cross is somewhat difficult. Today, we need to continue to pay attention to the strength of short-term rebounds and the strength after the 4-hour death cross!
Today's Ethereum short position suggestion: Lightly short above 3550; stop loss above 3650; target 3480-3430; if it breaks, look to hold on to 3400!
Today's Ethereum long position suggestion: Lightly long below 3430, stop loss below 3365; target 3490-3550; specific entry opportunities for long positions can be followed through Lihui's real-time updates!
There may be delays in article review and push notifications; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit orders when entering, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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