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Crypto Veteran Yang: Ethereum Market Analysis and Reference for December 2, 2024

Ethereum's daily high reached 3750. The EMA12 trend support line is still extending, currently at 3510 and expected to challenge around 3600 to form resistance. Although the trend indicator's network expansion has stopped, bullish momentum remains, and the distance between long and short indicators is widening, indicating an increase in the price fluctuation range, which the main force may use to repeatedly wash out positions. The MACD shows a step-up in volume, the Bollinger Bands are expanding, and the K-line is hovering near the upper band at 3800, presenting an overall bullish pattern breaking previous highs. The subsequent market is expected to continue evolving under the tug-of-war between bulls and bears and the operations of the main force.

The four-hour chart clearly shows the trend of sector rotation, achieving four consecutive bullish candles. The current K-line is hovering around 3700, which is not an ideal entry point due to weak EMA12 support. It is crucial to pay attention to the EMA26 support level at 3635; after it breaks down, observe the stabilization point before making a long position. The MACD top divergence continues, with volume decreasing and moving downward, while the DIF and DEA remain expanded at high levels, and the KDJ is also diverging downward. At this moment, both bulls and bears face excessive risks; those who have not entered should wait for a deeper pullback before considering entry, primarily focusing on long positions, while aggressive short sellers must ensure proper risk control.

Key points for short-term trading strategy: The market is unpredictable, and there is no absolute certainty; therefore, it is essential to set stop-loss levels, prioritizing the safety of funds. The core pursuit and goal of short-term trading is to exchange a small stop-loss cost for significant profit opportunities.

Short-term strategy:

Short from 3750 to 3800, add to position at 3900, stop-loss at 50 points, target 3700

Long from 3450 to 3500, add to position at 3380, stop-loss at 50 points, target 3700

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 involves risks, and caution is advised when entering the market.

This article is exclusively planned and published by Crypto Veteran Yang. For more real-time investment strategies, spot contract trading techniques, and operational skills, feel free to consult me 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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