Ethereum 11.29 market analysis and trading strategy

I. Market review and current situation

At 9:00 am on November 29, the price of Ethereum was 3558. At this moment, it is near the key neckline of 3550 and has successfully held this important position. Judging from yesterday's trend, Ethereum stretched rapidly from 3300 on the fast line, reaching a maximum of 3688, and then stepped back to the support level of 3530 corresponding to the golden section line 0.618, which was proven to be effective. At present, Ethereum has entered the second stage of the ladder-like upward movement and is sprinting towards the third stage.

II. Technical indicator analysis

(I) Daily K-line indicator

Before the release of the daily K-line, the highest was 3686 and the lowest was 3550. The upward mesh diffusion of the EMA trend indicator has ended, but the MACD volume increase stretch is still continuing, and DIF and DEA are still in a high-level diffusion and pull-up state. The Bollinger Bands are open. Although the K-line broke through the upper rail yesterday, it has now returned to the upper rail 3594 channel. The pressure at this position is relatively weak.

(II) Four-hour K-line indicators

The four-hour K-line has continuously stood firm at the EMA15 trend support of 3530. MACD volume has decreased and the top divergence has continued. DIF and DEA have shrunk downward at high levels, while the K-line is blocked at the trend high. The Bollinger Bands are also in an open state, with the upper rail pressure at 3704 and the middle rail support at 3475.

Judging from various technical indicators, Ethereum's bullish trend is still continuing. III. Trading strategy

(I) Long strategy

Considering the impact of sector rotation, when arranging long orders, it is recommended to wait for the key support level to be stepped back before making a decision. The current neckline is not an ideal first entry point for long orders. If the price drops further, you can choose to enter the market in the 3450 to 3500 range to go long. Set the defensive position at 3400 to 3350, stop loss 50 points, target price first look at 3600 to 3650, if successfully broken through, further look at 3700 to 3750.

(II) Short strategy

For short operations, short orders can be arranged when the price rises to the range of 3800 to 3850. The defensive position is set at 3900 to 3950, stop loss 50 points, target first look at 3700 to 3600, once broken, it is expected to drop to 3500 to 3450.