11.12 Thursday Midday Market Analysis

The downtrend has yet to reverse. ETH’s most obvious issue is not whether it can rebound in the short term, but that rebounds have consistently failed to change the broader weak structure.
On the 4-hour chart, after retreating from a high near 2449, ETH has continued to form lower highs and lower lows, with a low of around 2003. Although the price has returned to 2055, it remains in a downtrend overall.
After rebounding to 2103.6 on the 4-hour chart, ETH faced selling pressure again, indicating that a clear supply zone has formed around 2100. The rebound failed to continue, and the price returned to consolidate near 2050, with buying still lacking initiative.
Capital and market sentiment: Recent market performance shows that ETH’s support is clearly weaker than BTC’s. Coinbase’s recent market positioning report also noted that ETH perpetual futures open interest fell nearly 15% in October, spot ETF funds continued to flow out, and sell-side order book depth for ETH increased.
This means the market is not short of short-term rebounds, but the incremental buying needed to drive a sustained price reversal still needs to be confirmed.
BTC trading advice: Short near 74000, add to the short position near 74600, stop loss at 75300, take profit at 73500-72500
ETH trading advice: Short near 2065, add to the short position near 2100, stop loss at 2130, take profit at 2040-1970