In yesterday's post, I explained that Bitcoin's repeated pullbacks have pushed Ethereum to new highs. Today's trend also confirms my prediction. After the pullback and adjustment, Bitcoin's trend rebounded again, and Ethereum also rose, breaking through new highs once more! At the same time, the Ethereum long position strategy I presented has successfully closed with profits!

【Analysis of Ethereum Price Trend from the Four-Hour Chart】

Candlestick Pattern:

Recent candlesticks show price fluctuations around 3700, with certain upper and lower shadows, indicating fierce competition between bulls and bears in the market. The daily chart showed a long bullish candle on November 30, breaking through previous highs, but a pullback occurred on December 1, forming a bearish candle, indicating a need for adjustment in the short term.

Technical Indicators:

MACD: The 4-hour MACD is above the zero line, with bullish momentum weakening, and the fast and slow lines are close to convergence, posing 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 maintaining an upward trend in the medium to long term.

Trading Volume:

On November 30, the trading volume significantly increased, accompanying the price rise, indicating clear capital support. On December 1, the trading volume shrank, and the price pullback indicates a weakening desire to chase the rise.

Evening 7 on 12/1 Ethereum Stable Profit Layout:

It is recommended to enter long positions for Ethereum around the pullback to 2650-2670, with a profit target of 2700-2740. If Ethereum breaks through new highs, consider holding the long position only, with a target of 3800.

If there is a pullback, it is suggested to add to the long position near 2630, with a take-profit point of 2680-2700.