$ETH

ETH REVIEW HIGHLY LIKELY TO CORRECT (November 29, 2024).

Probability: 70%

Based on on-chain -3D data, we see that

ETH's main trend is still UP.

That is, it is an adjustment in the long-term growth trend.

1. The bar area below $3,500 to $3,200 (left) is accounting for a large number of previous Long orders with Stoploss placed.

2. In terms of technical analysis, we see that ETH is strongly resisted at the upper border of the downtrend line and cannot break through the $3,700 area to move towards a stronger growth zone in the 8H chart, and in terms of the RSI index, we see signs of a gradually lower peak. If ETH fails to hold the 3,500 price level this week, there is a high possibility of a correction to liquidate LONG orders before returning to the growth price zone of wave 3 according to the monthly candle.

3. According to the Elliot wave structure of the weekly frame, ETH is currently running almost through the weekly wave (slight increase and sideways following the uptrend).

Do you have any other comments about ETH?