Ethereum's performance yesterday was unexpectedly strong. Bitcoin formed a doji candlestick pattern, while Ethereum had a long-bodied bullish candle with upper and lower shadows, indicating a strong rebound. The price once again tested the upper edge of the red box, forming a rebound, with trading volume about one-third higher than the previous two days, though not very high overall. Currently, if it oscillates back and forth for a few days in this position, it will continue to rise, similar to the trend from November 23 to 26, on the condition that Bitcoin does not continue to fall below 90000. As long as Ethereum rises, it will drive a wave of altcoin trends, with upward targets at 3600-3700. Once it reaches this position, there will be a pullback, and short-term traders can take profits at this point, waiting to re-enter when the price retests above the MA30 line. The daily resistance levels are 3580-3680-3825-4200, and the support levels are 3200-3020-2870.
The hourly trend shows a 3-hour rebound encountering resistance at the 3-hour EMA52 line, forming a short-term downtrend. In the short term, one can short in the 3460-3520 range and long in the 3360-3200 range, which is effective within the day.
From the Ethereum liquidation heatmap data, we can see
the price is rising, with a large number of significant short positions waiting for liquidation in the 3468-3600 range
the price is falling, with a large number of significant long positions waiting for liquidation in the 3268-3130 range
