November 19th ETH Analysis

After breaking through the 3200 mark in the early hours, Ethereum quickly fell back. Within the four-hour time frame, the coin shows signs of stabilizing; after a dip, the bears have not managed to hold their ground, revealing a weak trend, and the downward space seems to have been fully released.

Currently, the bulls are still in a phase of gathering strength and preparing for an upward move, with alternating bullish and bearish patterns, and fierce competition between both sides. However, the entity bars have repeatedly shown lower shadows, indicating strong and effective support below. The morning strategy should pay attention to the strength of the pullback, and we can adopt a strategy of buying on dips after the pullback.

Ethereum: Around 3100, target 3250, defense 3050