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Crypto Circle Old Yang: Ethereum market analysis and reference on December 2, 2024
Ethereum daily line peaked at 3750. The EMA12 trend support line is still extending, currently at 3510 and expected to challenge the 3600 area to form resistance. Although the trend indicator's net expansion has stopped, the bullish momentum remains, with long and short indicators widening the distance, indicating an increase in the price fluctuation range, and the main force may take this opportunity to wash positions repeatedly. The MACD shows a step-up in volume, the Bollinger Bands are expanding, and the K-line is hovering near the upper track at 3800, overall presenting a bullish pattern of breaking previous highs in volume. The subsequent market is expected to continue evolving under the pull of bulls and bears and the operations of the main force.
The four-hour chart clearly shows the sector rotation trend, having achieved four consecutive bullish candles. Currently, the K-line is hovering around 3700, which is not a good entry point due to weak EMA12 support. It is crucial to pay attention to the EMA26 support level at 3635; after it breaks down, observe for a stable point before considering a long position. The MACD top divergence is still ongoing, with volume decreasing and moving downwards, DIF and DEA expanding at high levels, and KDJ also diverging downwards. At this moment, both long and short sides carry risks of exceeding returns; those not in the market should wait for a deep pullback before considering entering, primarily focusing on going long, while aggressive short sellers must ensure effective risk control.
Key points of short-term trading strategy: The market is unpredictable, and there is no absolute certainty, so it is essential to set stop-loss levels, prioritizing the safety of funds. The core pursuit and goal of short-term trading is to exchange a small stop-loss cost for a significant profit opportunity.
Short-term strategy:
From 3750 to 3800 short, add positions at 3900, stop-loss 50 points, target 3700
From 3450 to over 3500, add positions at 3380, stop-loss 50 points, target 3700
Disclaimer: The above analysis only represents the author's personal views 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.
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