📣Where is the peak of Ethereum, will it reach $4000 in December?📈

ETH prices have recently fluctuated, but the overall trend remains bullish, and it is expected to continue breaking upwards in the short term. Despite the rise in ETH prices, market sentiment remains cautious, with some investors choosing to take profits, leading to a price correction. December will see events such as Ripple unlocking 1 billion XRP and BTC market share reaching its peak, which is expected to have a certain impact on the market.

In yesterday's post, I explained how Bitcoin's repeated corrections and increases have pushed Ethereum to new highs, and today's trend confirms my prediction. After Bitcoin's correction and adjustment, the trend rebounded again, and Ethereum also rose, breaking through new highs once more! At the same time, the Ethereum long position strategy I provided yesterday successfully took profits!

【Analysis of the Ethereum price trend from a four-hour perspective】

K-Line Pattern:

Recent K-line shows that the price fluctuates around 3700, with certain upper and lower shadows, indicating intense competition between bulls and bears in the market. The daily chart shows a long bullish candle on November 30, breaking through previous highs, but a correction on December 1 formed a bearish candle, indicating a need for adjustment in the short term.

Technical Indicators:

MACD: The 4-hour MACD is above the zero axis, with bullish momentum weakening, and the fast and slow lines are close to convergence, presenting a risk of a death cross.

RSI: RSI14 hovers around 60, not entering the overbought zone, indicating insufficient upward momentum.

EMA: The current price is below EMA7 but above EMA30 and EMA120, indicating a weak short-term trend, while the medium to long-term still maintains an upward trend.

Evening of 12/1 Ethereum steady profit layout:

It is recommended to enter long positions when Ethereum corrects to around 2650-2670, with profit target points: 2700-2740. If Ethereum breaks through new highs, consider holding long positions with a target: 3800.

If it corrects, it is suggested to add to long positions around 2630, with profit points: 2680-2700.

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