📣Ethereum Trend Analysis and Trading Suggestions for the Evening of 12/1🈳：
The trend of Ethereum is basically linked to Bitcoin, which dropped sharply from 3020 to around 2830 in the morning. The main factors causing this rapid decline are technical aspects and changes in market sentiment. On the one hand, there is a clear sell signal on the one-hour chart of Ethereum, which usually indicates that after a sustained rise, the short-term momentum may weaken and face a correction.
Analyzing the price trend of Ethereum on a four-hour basis, the price has gradually fallen from a high of 3034 to 2841, forming a series of bearish candles, showing a clear downward trend. The daily level shows a sharp drop of 150 points on December 01, with a closing price lower than the previous trading day, forming a large bearish candle. In the MACD four-hour cycle, the MACD histogram continues to be negative and expands, with the DIF and DEA crossing downwards, indicating that bearish forces dominate. The RSI value in the four-hour cycle is 31, close to the oversold zone but has not entered the extreme area, indicating a possible short-term rebound demand. The current price is below the EMA7, EMA30, and EMA120 moving averages, with EMA7 declining rapidly, and EMA30 and EMA120 maintaining a suppressive effect, overall leaning bearish. The trading volume in the four-hour cycle has increased (such as during the 08:00 period 199404), accompanying the rapid price drop, indicating strong selling pressure. This further confirms a bearish market sentiment.
Trading Suggestions for Ethereum on 12/1:
It is recommended to enter short positions in the range of 2840-2860 for Ethereum, with target points: 2800-2760-2720. If the trend continues to decline and breaks below 2700, continue to hold the short position!
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