Li Shengtian: Ethereum Market Analysis and Trading Strategy for November 17th Afternoon

CN
李聖庭
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5 hours ago

Ethereum's price dipped to around the 3000 mark early this morning, and then at 8 AM, a large bullish candle formed on the daily chart. From the daily technical indicators, both the KDJ and MACD indicators are turning upwards, while the BOLL indicator is operating in the middle band area. Although the MA5 and MA10 moving averages are still exerting downward pressure, the MA30 moving average has made a strong upward turn this morning. Currently, the price is showing a green TD1 upward pattern. It is likely that today's price will rebound due to overselling and fill the gap. Additionally, although the three-day moving averages are arranged in a bearish pattern, the downward momentum has significantly weakened, indicating that today's selling volume is noticeably reduced compared to yesterday.

From the 4-hour technical indicators, both the KDJ and MACD indicators are slightly turning upwards, and the BOLL indicator has stabilized again in the middle band area. The downward momentum of the short-term MA5 and MA10 moving averages has significantly weakened. It appears that today's technical outlook will likely focus on a fluctuating upward trend, with resistance levels to watch around 3287-3345. If the breakout fails, it will test the bottom support around 3037-2877 again.

Ethereum: Long positions around 3180-3145, Stop loss: 3067, Target: 3275

Bitcoin: Long positions around 95200-94500, Stop loss: 93000, Target: 97500

The above is my personal market analysis for the afternoon, for reference only. Specific points and directional changes are subject to real-time guidance.

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