📣Ethereum market trend analysis and trading strategy sharing on 12/3:
Ethereum broke a new high at the 3140 line in the evening, but did not stabilize above 3100. From the current retracement trend, this retracement is merely a pullback to gather strength during the uptrend, and the bullish trend is still ongoing....
From the four-hour Ethereum price trend analysis, the recent price quickly rebounded from a low of around 2797 to 3084, forming a large bullish candle, indicating strong bullish momentum. The current candle is oscillating at a high level, close to the previous wave high point around 3145, which may face some selling pressure. The DIF and DEA are gradually rising, and the MACD histogram has turned positive and continues to expand, indicating a short-term bullish trend, but attention should be paid to the risk of divergence at high levels. The RSI value is 65.71, in a relatively strong area, but has not entered the overbought range, leaving room for further upward movement. The price has broken through EMA7 (3022) and EMA30 (2956), and is far above EMA120 (3049), with moving averages showing a bullish arrangement, providing strong support. At the same time, the trading volume significantly increased during the surge on December 2, and then decreased during the subsequent pullback, indicating insufficient downward momentum. The current trading volume has somewhat recovered, but has not reached the level during the surge, intensifying the tug-of-war between bulls and bears.
Trading suggestions for Ethereum on 12/3:
It is recommended to enter long positions around 3050-3060 for Ethereum, with target points: 3100-3140-3170.
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