November 21 Ethereum Trend Depth Analysis and Intraday Analysis:

ETH: The daily chart closed with a large bearish candlestick on increased volume, and the recent support around the 3000 point level has been breached again. Today saw a continuous decline, currently halting near the strongest Fibonacci resistance line (61.8% retracement level) around 2750. This position is also the upper support of the range that Ethereum built from May to July this year, between 2400-2700. The moving average system shows a bearish divergence trend across all short to medium-term moving averages (MA7/14/30/90), particularly the short-term MA7, which is exerting strong pressure. The candlestick consistently moves downward around MA7 without showing any engulfing or effective stabilization, indicating that Ethereum is in a one-sided bearish downtrend dominated by bears. The volume continues to increase while experiencing a strong decline, and the rebound energy is clearly insufficient, only qualifying as a technical corrective rebound. The MACD indicator's fast line has opened downwards again, with the negative value of the histogram expanding, showing no convergence and no signs of a bottom divergence. In the subsequent market, focusing on the 24-27 range support area in the coming week is crucial. If the daily chart repeatedly tests this area and rebounds, with the candlestick showing a longer impact downwards, and the volume also increasing, it can be seen as a signal to buy the dip. Conversely, if it breaks below 2400, the market may face a new round of panic selling. For intra-day operations, focus on the pressure to look for short opportunities at the 2780-2830 level above, and watch for support at the 2700-2650 level below.
#ETH