📣11/8 Ethereum Trend Analysis and Trading Strategy Sharing:

Last night, Ethereum long positions in the 3050-3060 range were once again closed with profits, securing gains of 100-130 points. In the evening, after Ethereum touched the low of 2900, a deep 'V' reversal trend pushed it back up to 3150. During the day, the market was mainly consolidating, and in the evening, it attempted to break through the 3170 resistance level but failed to establish a firm foothold.

From the four-hour Ethereum price trend analysis, the candlestick price shows a volatile upward trend. The 4-hour candlestick on December 8 indicates that the highs are gradually rising, but there is some resistance near 3125. On the daily chart, after forming support around 3050, it rebounded and is currently approaching the previous swing high of 3179. The MACD 4-hour histogram continues to expand, indicating stronger bullish momentum; both the DIF and DEA are diverging upward, with bulls dominating in the short term. The RSI(14) is currently at 56.62, in a neutral-to-strong range, not yet overbought, and still has room to rise. EMA7 (3107.30); EMA30 (3071.92); EMA120 (3068.16), all moving averages are in a bullish alignment, with a positive short-term trend. EMA7 provides dynamic support to the price. The 4-hour trading volume has declined compared to the previous surge, indicating more cautious market sentiment. Daily volume overall remains stable, suggesting that funds have not significantly exited the market, and market confidence is still reasonable.

11/8 Ethereum Trading Recommendations:

It is recommended to enter short positions in Ethereum around the 3170-3190 area, with target levels: 3120-3080-3050.

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