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 enhancing one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

Old Yang from the crypto world: Ethereum market analysis on November 20, 2024

The daily chart of Ethereum shows a bearish reversal trend. After a sharp drop of over a hundred points from the high, it has temporarily settled at the 3140 balance point. Although the EMA trend is still in a bullish arrangement, it has not ended; the EMA12 support has reached 3065, and a drop to EMA26 at 2920 may become a new support focus. The MACD shows a top divergence with a significant decrease in volume, and the DIF and DEA are nearing a death cross, indicating a major trend reversal to bearish. At this moment, the operational strategy should focus on finding key resistance levels in smaller trends to set up short positions while strictly controlling risks.

The four-hour K-line of Ethereum has entered an upward channel, but the EMA trend indicator is gradually narrowing. If it fails to break through, the bearish momentum will be strong. The MACD volume is tightening, and the DIF and DEA are interlacing near the 0 axis. The Bollinger Bands are narrowing, reducing the bullish and bearish range, and the box pattern continues, with the upper boundary at 3180 and the lower boundary at 3050 being key levels.

Short-term strategy:

Short from 3190 to 3250, stop loss at 50 points, target at 3100.

Long from 3000 to 3050, stop loss at 50 points, target at 3180.

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. Investment carries risks; please proceed with caution.

This article is exclusively planned and published by Old Yang from the crypto world. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can 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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