ETH Market Trend Analysis 20241207
Today's ETH daily chart shows a long bullish candle with a short upper shadow and a short lower shadow. The trading volume is similar to yesterday, maintaining a trend of fluctuating upward movement.
The MA30 line continues to rise, and the MACD is getting stronger above the zero line. Overall, ETH remains in a strong upward trend, with ETF money still flowing into Ethereum. Although Grayscale has been selling, BlackRock's significant purchases are quite substantial.
With the US stock market closed over the weekend, Ethereum might adjust a bit, fluctuating at high levels. When the US stock market opens next week, it is likely to surge again. It is not far from the previous high of 4093.92 and may very well reach it, but after a surge, short-term adjustments should also be noted.
Adjustments provide opportunities to enter the market, but one must be cautious of risks; buy when the spot price is low. Daily level adjustments do not affect the overall upward trend in the weekly and monthly charts.
The daily level resistance is at 4100-4290-4500, and support is at 3850-3730-3650-3510-3405-3200.
Looking at the hourly level, we are currently seeing the final 15 minutes of a series of rebounds returning to the zero axis.
On the short term, one can try going long at 3900, 3800, and 3650, and short at 4100.
The three-day Paris heat map shows prices moving up, with a small number of large short orders waiting in the 4100-4160 area. If prices move down, there are scattered long orders waiting in the areas of 3990-3932, 3892-3852, 3832-3796, and 3762-3720 in Auckland.
As for the upcoming layout direction, I will guide everyone to target the lucrative opportunities in altcoins, especially those with high potential projects, where an expected growth of over 10 times is certainly feasible. If you want to make big money in a bull market, like and comment, and I will help you layout the entire bull market!
