11.22: Ethereum breaks through resistance, should we chase the rise or remain bearish? Latest market analysis
Current price 3362, daily candle closes with a huge bullish breakout from long-term resistance. To continue rising, it must stabilize above 3440. Last night, Grayscale continued to sell at 2710u, the highest in a while. Fortunately, other firms were buying, but overall, there is still an outflow; institutions do not favor Ethereum.
The daily MA7 extends to 3190, maintaining an upward trend. MACD has transformed from a death cross to a golden cross above the zero line. A larger bullish candle has completely changed the indicator's state, but the indicators are still lagging. Only when Ethereum rises can altcoins rise, and everyone can make money. As for Bitcoin, many people are still in a wait-and-see state over the weekend.
Ethereum is consolidating in a sideways adjustment on the 4-hour chart. For safety, do not short or long at the current price; after the adjustment, there is a high chance of a surge. Funds are still in Bitcoin, and the sideways movement of Bitcoin may flow into Ethereum.
Daily resistance levels: 3424-3471-3523
Support levels: 3322-3283, the possibility of falling is low.
For short-term operations, place an order at 3350 to see 3500 and 3523 for light shorting.
Bitcoin is for those with a strong appetite for risk; there's not much to discuss. Those with a weaker appetite should observe; even if points are given, it doesn't hold much meaning.
Please refer to actual trading for specific operations, as there may be delays in the publication. Investing has risks; please manage your stop-loss according to your own risk tolerance.
