$ETH 2025-11-30, the end of the month coincides with the weekend. Tomorrow, both the weekly and monthly lines will refresh. As long as today does not break the support level, we should see a nice rebound next week. Last night I mentioned that the strong support for the big pancake is at 90, and for the second pancake, it is at 2965, which has multiple resonance. This has been confirmed, and we are currently testing the upper boundary of the intraday downward channel. After breaking through, observe the breakout conditions at three levels above: 3045-3070-3100. If we successfully break through 3100 with increased volume, there may be some selling pressure in the range of 3150-3200. However, considering the nearly 1 billion buy orders from last night, it shouldn't just be about taking profits at such a small amount. Let's observe the breakout situation then. Additionally, next week will be relatively critical because this round of oversold rebound has not shown a secondary bottom, so it is currently uncertain whether this round of adjustment has ended. Assuming it has ended, we could see levels above 4500. As for new highs, the probability is low unless there is significant positive news; otherwise, it will be difficult to break new highs directly. Therefore, after a rebound, the probability of continuing a deep adjustment is relatively high. If a top formation appears at any position in the range of 3150-3500, we will need to continue the adjustment. The next adjustment position is 2250-1800, but we are not looking that far ahead; let's take it step by step and keep it updated daily.

Summary: Those with good positions in long positions can hold on. If the entity breaks below 2965 and stabilizes, consider taking profits and losses in batches, with the defensive position set below 2940. Only consider southward movement if breaking below 2965-2940. The northward risk-reward ratio is still quite attractive; just manage your position well.

Resistance levels: 3030-3045-3070-3100-3150-3220-3500 (multiple resonance strong resistance levels; if the breakout fails, you can consider shorting, the risk-reward ratio is very appealing)

Support levels: 2980-2965-2940 (breaking below may open up a secondary bottom)

ETH
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