The cryptocurrency market has been deeply cultivated for many years. Having experienced numerous ups and downs in the cryptocurrency market and witnessed the rise and fall of countless currencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and the cryptocurrency market is no exception. Continuous learning and improving one's cognitive and judgment abilities are essential to moving steadily in this challenging field.
Old Yang from the cryptocurrency world: Ethereum market analysis on December 1, 2024
Recently, Ethereum's performance has been remarkable, fluctuating between 3740 and 3650 on the daily chart, and its leading position is prominent. The EMA indicator highlights the rise of bulls, with EMA12 at 3460. MACD has expanded, with funds actively entering the market, and DIF and DEA are strongly diverging at high levels. After the K line broke through the upper Bollinger Band at 3750, it continued to remain active above the upper band. KDJ also shows a bullish trend, presenting an overall bullish situation with strong upward momentum. However, the market is unpredictable, and investors should remain vigilant about risks to capitalize on this wave of market movements.
On the four-hour chart, the key support line remains at 3550, while the short-term support EMA12 has risen to 3650. Although MACD has expanded, DIF and DEA are consolidating at high levels, with increasing top divergence. The Bollinger Bands are contracting; the upper band at 3700 has been lost, the middle band extends to 3623, and the lower band is at 3500. The overall mindset still leans towards bullishness, and given that the sector rotation has just begun, the trading strategy should mainly focus on buying on dips, while short selling should be approached with caution.
Short-term strategy:
Short from 3750 to 3800, defend at 3900, stop loss at 50 points, target 3600
From 3450 to over 3500, add to positions at 3400, stop loss at 50 points, target 3700
Disclaimer: The above analysis only represents the author's personal opinion and does not constitute specific operational advice. Trading based on this analysis is at your own risk; investing carries risks, and caution is advised when entering the market.
This article is exclusively planned and published by Old Yang from the cryptocurrency world. For more real-time investment strategies, spot contract trading methods, operational skills, and other knowledge, feel free to consult the author for learning and communication. I have focused on BTC, ETH, and altcoin spot contracts for many years and hope to help you achieve brilliant results!
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