ETH (11/27 trend analysis)
The price of Ether fell somewhat yesterday, slipping from 3460 to 3260, a drop of $200. In comparison, other altcoins have seen steeper declines, generally above 10%.
Today, the price of Ether has rebounded, returning to the 3360 price level.
However, most altcoins are still hovering at low levels.
On a weekly level, Ether is encountering significant pressure above the 3,500 level, where price is finding resistance. The daily chart shows a sideways shock pattern, with long and short forces in a relatively balanced state within this range, lacking clear directional guidance.
The 4-hour line also shows a sideways oscillation, indicating that price fluctuations are limited in the short term and there is no significant trend change.
To sum up, the key for Ether currently is whether it can successfully break through the important pressure level of 3500.
This point is the most critical and last pressure barrier above ether. If it can successfully break through within the remaining 3 days before December comes, it will open up new space for subsequent market development, and its trend deserves close attention.
