Mr. Crypto: Ethereum Market Analysis and Reference for November 24th

Ethereum (ETH) Market Analysis (November 24th): Ethereum traded with an upward bias throughout the day, currently reaching a high of around 2870, a gain of nearly 100 points. While the price surge was strong, it failed to break through the 2900 level, indicating strong resistance above. If the rebound cannot be sustained, a pullback is likely. Therefore, it is advisable to be prepared. Looking at the 4-hour chart, the market recently formed a double bottom pattern in the 2704-2733 range, with key short-term resistance around 2860. The price rebounded after testing the low of 2786. Although the daily chart shows long lower shadows in the 2623/2675 area, indicating support at lower levels, the closing price remains constrained by the 7-day moving average. The overall moving average system remains bearish, and the downward trend has not yet reversed. Technically, the 4-hour MACD shows a bullish divergence signal, meaning the price made a new low while the DIF did not break the previous low, suggesting weakening downward momentum. The daily MACD histogram shows a decreasing volume decline, reflecting a weakening of bearish forces. Furthermore, the attempt to cross above the EMA30 on the 4-hour chart failed, and the price remains strongly suppressed by the 120EMA (around 3208). The overall structure remains bearish, and attention should be paid to whether it can effectively break through the short-term moving average resistance to confirm a stabilization signal. Short-term resistance is around 2860, followed by the 2930 area. Ethereum short-term strategy reference for November 24th: Short at 2915-2875, stop loss at 30 points, target below 2800; Long at 2681-2611, stop loss at 30 points, target above 2720. Note: There may be a delay in posting this article; the strategy suggestions are for reference only. Market conditions change rapidly. No matter how confident you are in your market analysis, always use stop-loss and take-profit orders to secure profits.