📣 Ethereum is gearing up, having continuously broken new highs; will it continue to rise in the future? 📈
After a new high on Saturday evening, Ethereum did not continue to break upwards but chose to pull back again to gather strength. Yesterday it pulled back to around 3280 and then rebounded, today it briefly surged high. From the current fluctuations, the trend will continue to break upwards and continue to rise!
【Analysis of Ethereum price trend from four-hour chart】
Candlestick pattern:
Recently, the price has fluctuated within the range of 3400 to 3500, forming a relatively narrow consolidation area. On November 23, a candlestick with a long upper shadow appeared, indicating some selling pressure above.
Technical indicators:
MACD: Currently, both DIF and DEA are negative values, but DIF is gradually approaching DEA, indicating that the bearish momentum is weakening and a golden cross may be imminent.
RSI: The RSI is currently around 65, close to the overbought zone, but has not yet entered an extreme overbought state, posing a short-term risk of a pullback.
EMA: EMA7 (3398.94) has crossed above EMA30 (3322.94) and is well above EMA120 (3110.88), indicating a positive mid to long-term trend.
Trading volume:
In recent days, trading volume has increased, especially on the big bullish candlestick on November 23, showing increased market activity. Subsequently, in the following trading periods, trading volume slightly shrank, indicating that both bulls and bears are temporarily observing.
11/25 evening Ethereum stable short-term profit layout:
It is recommended to enter long positions below 3500 for Ethereum, short-term target price: 3530-3560. The target for further rise is above 3600!
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