11.26 ETH Trading Strategy
Ethereum is still moving within the 2850-2990 range on the hourly level, overall showing a strong oscillation but with no clear direction. Both bulls and bears are 'pulling' back and forth around the upper and lower bands of the Bollinger Bands, and the trading volume is very typical:
There is volume during the upswing but it doesn't last, and the volume shrinks during the pullback but it also doesn't drop significantly. Simply put: the market is currently waiting for a catalyst, and no one is making significant moves.
The current price is close to the upper band of the Bollinger Bands, a sensitive position that could either face pressure and pull back or break through with volume at any time.
The bullish strategy is relatively safe, following the trend, buying in batches at 2900-2920, with a stop loss below 2860.
Target 1: 2975, Target 2: 2985
Logic: Still within the upper part of the range, if there is a pullback opportunity, we get in, which belongs to range trading and offers good value for money.
The bearish strategy is to bet against the pressure, light position, short lightly in the 2970-2980 range.
Stop loss: above 2990, Target 1: 2920, Target 2: 2870
Logic: Betting against the pressure while staying close to the upper range, there is considerable room for reversal, but it must be a light position with strict stop loss to avoid sudden breakthroughs.
