24/11/25 BTC's descending channel encountered resistance, ETH showed an engulfing pattern, spot rebounded and reduced positions at highs.
Yesterday early morning reminded of the risk of a pullback, during the day reminded on 24/11/24 that the liquidation risk of BTC increased, ETH's rebound is still continuing, well-established altcoins are taking turns to rebound, dropped to 95734 last night and rebounded to a morning high of 98369, just testing the price near yesterday's drop for the second time.
Ethereum's daily line shows an engulfing pattern, after setting a new high of 3497 and falling back to a false breakout, the big coin dropped more than 2 points while altcoins dropped by ten to twenty points, rebounded in the evening with another wave of red, although we see altcoins are still continuously rebounding, and the increase is huge.
But it only takes the big coin to slightly pull back 10 to 15 points, many altcoins have been halved, looking at the market, the bulls are very strong but must effectively break through key resistance, unless it breaks through the new high and stabilizes again, only then will we consider entering, or drop back to 85000—87000 for medium to long-term layout.
Big coin
The weekly closing shows three consecutive bullish candles approaching the 100,000 mark, the daily line shows a evening star, today will test the upper pressure of 98369 again, if it can break through, there will be a small increase; if it cannot break through, it will continue to pull back.
The 4-hour chart shows a rebound at the upper edge of the descending channel encountering resistance, which is also the Fibonacci 0.618 repression of the rebound. The rise will not be completed in one day, nor will the decline end overnight, go with the trend. We will wait for lower price levels to layout medium to long-term trends.
Support:
Resistance:
Ethereum
The daily line shows an engulfing pattern, the price rebounded to 3497 and then fell back forming a false breakout, the price line is below the previous 3444 pin platform, the 4-hour daily MACD shows serious divergence at the top, we need time here to digest and patiently wait for the trend to change.
Support:
Resistance:
