Someone just told me to take a look at Ethereum, saying that my Ethereum orders are quite similar, overall it’s still okay, and there won’t be any ridiculous situations.

So I’ll just look at it directly on the daily and weekly charts. First of all, this wave of Bitcoin’s bull run, Ethereum is almost entirely being criticized daily. I’ve mentioned before that the current Ethereum is not the same as the past Ethereum; it seems that Bitcoin’s movements don’t have much to do with Ethereum anymore 😅

On the daily chart, it touched the high point from November 11 yesterday, getting stuck at the 3400 resistance level, and there was a sharp drop during last night’s US trading session. The weekly pressure is concentrated around 3500-3550. The support area on the daily chart is the previous week’s continuous rebound high point area of 3230-3200, which is also where the current daily MA5 is located.

Now chasing more Ethereum is unrealistic, as Ethereum has consistently had poor performance, especially in terms of upward movement. So, for those looking to trade Ethereum today, one can short once relying on the 3400 resistance level, short around 3350, with a stop loss at 3405, and a target of 3250-3230.

For the downside, buy near the retracement of 3230-3200, with a stop loss at 3165, and a target of 3300-3330.