In the analysis of ETH on November 15, it was mentioned that the decline of ETH has not yet ended, and the suggestion was given to enter long orders at the yellow box and blue line. Although the market rebounded subsequently, it soon continued to decline and fell all the way to $1,904 before rebounding. The lowest price point just reached the upper edge of the yellow box marked on the chart.

Although the current price of ETH has returned to above $2,000 again, the trend is not optimistic. First of all, the daily MACD indicator is currently at a high level and has not been fully adjusted. The short-term market may continue to fluctuate up and down. If it rises again in the short term and exceeds the high of 2137 on November 10, there is a high probability that a divergence will form again, and the subsequent decline may be even greater.

The white line is the trend line of ETH's entire upward trend this year. Currently, ETH is trying to move closer to the white line. We continue to maintain the view that the price will stop rising and start falling after touching (or getting infinitely close to) the white line.

Returning to the short-term level, the blue line is the trend line since the start of the uptrend in October. The blue line has now been broken down, and the price is trying to approach the blue line again after starting to rebound. The yellow line is a short-term chip intensive distribution area. It is expected that the price will encounter certain resistance after touching the blue line, but it is not recommended to go short here. The better idea at present is still to try to intervene in long orders at low levels.

The area near the white trend line is still a potential pressure level. You can try to intervene in short orders here. If the market strongly breaks through the white line, you should stop the loss in time.

If the market returns to a downward trend, continue to use the yellow box area as the first point to intervene in long orders, and the blue line as the second reference point. If the blue line falls below, the loss should be stopped in time.