Ethereum Analysis on November 28
Yesterday, Ethereum showed a strong stretch of 400 points compared to Bitcoin, but this wave of increase stopped at the resistance zone of 3700, and now there is a slight pullback of nearly 100 points.
The next trading strategy still revolves around two approaches, mainly focusing on the 3700 threshold.
First, if there is a slight consolidation within this range and then it continues to rise, one can target the previous high position at 4000, but chasing high is not recommended. Currently, Ethereum has seen several days of net inflow; if this one-sided market trend continues, the selling pressure above will be significant. In this case, it is more advisable to set up short positions after reaching the previous high.
The other approach is a normal pullback after an increase. Since a pattern of catch-up has emerged and market funds are continuously injected, a deep pullback in Ethereum is unlikely. If it does pull back, one can pay attention to the 3300-3350 range for a low long position.
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