📣Ethereum trend analysis and trading strategy sharing on the evening of 11/18📉:

Currently, Ethereum needs to pay attention to the direction of the 3060 position, whether it has changed from a previous support level to a resistance level, or if it will receive support again. Although there has been a rebound, the overall trend is undoubtedly weak.

【Analysis of Ethereum Price Trend from Four-Hour Chart】

Candlestick pattern:

Recently, the price has been fluctuating around 3065, with a small upward bullish candle formed on November 18th, but overall it remains in a low-level consolidation phase. In the previous days (from November 16 to 17), a combination of long lower shadows and bearish candles appeared, indicating that there is some buying support in the market, but the pressure from above is evident.

Technical Indicators:

MACD: The current MACD histogram is close to the zero axis, with both DIF and DEA averages skewed negative, indicating that bearish strength is weakening but has not yet turned strong.

　　RSI: The RSI14 value is 41.41, which is in the neutral to weak zone, and may continue to fluctuate in the short term.

EMA: EMA7 (3063.74) has touched the current price, indicating short-term support; EMA30 (3172.50) and EMA120 (3450.86) are far from the current price, and the long-term trend remains bearish.

Trading Volume:

The daily trading volume has gradually shrunk, decreasing from the high point of 951989 on November 13 to 443417 on November 18, indicating a decrease in market activity. In the smaller time frame (4 hours), the trading volume fluctuates significantly, with noticeable signs of a pullback after an increase.

Ethereum trading strategy sharing on the evening of 11/18:

It is recommended to short Ethereum around 3070-3090, with target points: 3030-3000. If the trend breaks below 3000 again, the Ethereum price will continue to go lower, with target points: 2970-2940-2900.

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