ETH Price Analysis: Bull and Bear Battle, Key Positions are Eye-Catching!
Bro, the recent movements of Ethereum have been really exciting! Since November 23rd, the ETH price has been reversing from its downward trajectory. The good news is that the bullish force is pretty strong, and every time there’s a pullback, funds come in to buy the dip. So what’s next? Let’s take a look together!
Current Situation: Bulls are about to charge the downward trajectory
Right now is a critical moment, and the bulls are trying hard to break through the downward trajectory. If they succeed this time, the trend might shift from downward to upward, and the bulls could enjoy a good market.
Target Price: After breaking through, the price might shoot up to $3900, and it might even continue to rush towards $4094.
Resistance Area: But bro, don’t celebrate too early; there’s significant resistance in the $3900 to $4094 zone, and the bears might hold their ground here.
Downward Risk: Support Levels are Important
If the price gets pushed down by the trajectory again, it may need to adjust downward. We need to pay attention to the following levels:
20-day Moving Average ($3157): This is a defensive line that the bulls must hold. If it breaks, it could trigger a panic sell-off.
Support below $2850: If the 20-day moving average can’t hold, the price might continue to fall to the critical level of $2850.
Operating Suggestions
Once the price breaks through the downward trajectory and stabilizes, we can try to go long with small positions, targeting $3900, and set the stop-loss below the 20-day moving average.
If the price breaks below the 20-day moving average, we can consider shorting at high levels, targeting the support level of $2850.
Long-term Investment:
If ETH can stabilize above the 20-day moving average and gradually rise, we can increase our positions in batches during pullbacks.
To sum it up: Ethereum is currently in a battle between bulls and bears. In the short term, the key is whether the trend line can break; in the long term, we need to focus on the 20-day moving average and the support at $2850. Bro, remember to prioritize stability!
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