I have to say that Ethereum (ETH) has really not performed well.

However, since many brothers are still asking about the situation, I will briefly explain here, mainly because I still have a lot of Ethereum on hand, which is really frustrating.

Recently, the price of Ethereum has encountered a pullback at a high level, forming a short-term downtrend.

During the period from November 18 to November 19, the price quickly rose and successfully broke through 3200 points, but soon after it quickly adjusted to around 3100 points, which clearly indicates that there is heavy selling pressure above.

We need to pay close attention to the resistance levels in the range of 3150 to 3200.

Among them, the position of 3150 is close to the recent high, and naturally has selling pressure;

While 3200, as the pressure zone above after the breakout and a round number, should not be underestimated in its resistance effect.

On the downside, we need to pay attention to the two positions of 2950 to 2900.

Currently, if this four-hour support level is broken, the price will touch the previous low near the round number of 2900 points, where it is highly likely to build the next support level.

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