We have been saying in recent days that Ethereum's trend is synchronized with Bitcoin. The big brother takes the lead and the little brother must obey.
When Ethereum rises, it is not as strong as Bitcoin, but when it falls, it is faster than its big brother. Can this be considered another kind of strength?
A double top appeared in the daily chart, with three consecutive days of negative lines on the daily line, accompanied by three consecutive days of increased trading volume, which temporarily broke through the strong support of the daily EMA52 line. The current price is fluctuating near the line.
The price has reached the rising relay position near November 22. There will be certain support here. The price will fluctuate here, and there will be ups and downs at the hourly level. If a relay platform is formed after a few days of fluctuation, then this platform will be used as the starting point for the next round of rise.
The short-term trend still depends on the performance of Bitcoin. It will not make a direct V-reversal. The daily MACD is still far above the zero axis. The trend of increasing downward momentum will take some time to adjust.
Daily pressure level 3680-3825-4200-4290-4500, support level 3265-3050-2870
From the hourly level, the current trend is a 5-10 minute pullback within a 30 minute pullback within a 1 hour pullback.
After the hourly rebound, the price will continue to fall. In the short term, you can short at 3506, 3585, 3680, and short at 3285. It is effective within the day.
From the Ethereum liquidation heat map data
As the price rises, short orders are divided into several areas. There are some large short orders waiting to be liquidated in the 3468-3490 area and the 3532-3620 area. There are a large number of large short orders waiting to be liquidated in the 3724-3828 area and the 3912-4092 area.
The price is falling, and there are still a few large long orders waiting to be liquidated near 3300
