As a veteran in the cryptocurrency space, I have been deeply involved in this captivating and challenging industry for many years. Having experienced the ups and downs of the crypto market and witnessed the rise and fall of countless cryptocurrencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and this is especially true in the cryptocurrency space. Continuous learning and improving one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

Old Yang from the Crypto Circle: Ethereum Market Analysis on November 21, 2024

The daily chart of Ethereum shows signs of fatigue, with the EMA12 struggling at the 3070 support level, and a breakdown seems likely. The EMA26 at the 2930 support level is precarious, with clear intentions from bears to push lower. The MACD is decreasing in volume, and the DIF and DEA are nearing a death cross. If the closing price struggles to exceed 3100, a bearish dominance will become a certainty. The Bollinger Bands K-line has deviated from the upper band, moving down towards the 2954 mid-band, and the KDJ continues to diverge downwards, indicating strong bearish momentum. The market has entered a bearish trajectory, dominated by bearish sentiment. Investors must remain highly vigilant.

The four-hour chart of Ethereum is deeply entrenched in a bearish pattern. The EMA indicators have consecutively lost support, breaking below the EMA60 support level. The MACD continues to decrease in volume, with the DIF and DEA diverging downwards, showcasing strong bearish strength. The lower band of the Bollinger Bands at 3050 has also been breached, and a KDJ death cross has formed, indicating fierce bearish momentum. The critical support level of 3000 has not yet been broken, serving as the current key support. Investors can make decisions based on this; if 3000 holds, short positions can be closed for profit.

Short-term Strategy:

Short from 3100 to 3150, add to position at 3230, stop loss at 50 points, target 3050.

Long from 2900 to 2830, add to position at 2780, stop loss at 50 points, target 3100.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this analysis is at your own risk; investing carries risks, and caution is advised when entering the market.

This article is exclusively planned and published by Old Yang from the Crypto Circle. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can consult the author for learning and exchange. I have focused on BTC, ETH, and altcoin spot contracts for many years and hope to help you achieve remarkable results!

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