11-26 ETH Morning Thoughts
Ethereum's previous high faces resistance and a pullback! The momentum signal is visibly weakening.
As Ethereum approaches the resistance zone of 2950-3000, the pullback signal is evident! The candlestick shows a long upper shadow, and after a significant rise of over 100 points yesterday, it has declined for two consecutive days. The momentum is visibly weakening, and the adjustment demand after the surge is being released.
Focus on the trendline support at 2850-2870 during the day; a break could lead to a drop to the critical level of 2800. Resistance still looks at 2950, and without accompanying volume, it is difficult to break through. Currently, the market is highly competitive, and the Federal Reserve's policy disturbances have not dissipated. Do not blindly chase high prices; it is wiser to wait for a pullback to stabilize before making further arrangements.
ETH suggestion: 2975-3000 range, target 2884, 2850
