11.23 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
In yesterday's article, Lihui suggested entering a light short position in the 3400-3440 range, which has already yielded over 100 points in profit. The intraday pullback did not provide the expected space, and with Bitcoin breaking new highs in the evening, Ethereum has once again retreated, falling into a weak position.
It can be seen that the Bollinger Bands on the 1-hour chart for Ethereum are trending downwards, but the K-line pullback is still slow. The lower band is close to the EMA60 support line, which can serve as an entry point for long positions, with the stop loss set in the EMA80 and MA60 range. The MACD continues to expand around the 0 axis, with the fast and slow lines forming a death cross and approaching the 0 axis position, indicating that the fast line may show signs of turning.
On the 4-hour chart, the Bollinger Bands are once again narrowing, with the upper band moving downwards. It seems that breaking through the 3450 level is quite difficult, while the lower band continues to rise and overlaps with the MA30 support. Therefore, the range of fluctuations may not be very large, and we can continue to capture profits within this range.
On the daily chart, the upper band is rising, and the Bollinger Bands are about to form an opening state. The intraday defense points can be observed at the EMA7 and the middle band, which aligns with the MA60 on the 4-hour chart. As mentioned earlier, the EMA60 has risen and overlaps with the EMA220 and EMA160, while the EMA120 and EMA80 follow closely behind. The medium to long-term outlook continues to see a breakthrough and supplementary rise.
In summary, Lihui believes that the pullback space for Ethereum is limited, and we should continue to capture profits from the oscillation space. Currently, it is advisable to consider maintaining a long position.
At 4:50 AM Beijing time on November 23, the editor suggests entering a light long position in the 3300-3280 range; reserve a buy-in at 3200-3170, with a stop loss below 3150; target at 3360-3400.
For short positions, you can continue to monitor the 3400-3440 range; if it does not break, you can enter a light short position, targeting 3330-3270-3210. If it breaks below 3200-3170, you can continue to hold.
There may be delays in article review and push notifications; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit levels when entering, and take profits when available!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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This article is exclusively published by (WeChat public account: Zhang Lihui) for reference only; risks are borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and jointly compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey filled with challenges and opportunities!
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