November 24 Ethereum trend explanation and intraday analysis:

ETH: The weekly chart has once again closed with a large bearish candle on increased volume, maintaining an overall downtrend. Last week, it dipped near the 2600 point, just touching the upper support level of the 2400-2700 range that was formed in May and June. The short-term moving averages on the weekly chart continue to diverge downwards in a bearish trend, with the 7-day moving average breaking below the 30-day moving average, forming a death cross. The 180-day moving average (MA180) and the lifeline (2450) will be the last defense line for Ether, which also represents the lower baseline of the platform in May and June.
On Friday, the daily line showed a volume spike with a pin bar, closing with a long shadow and a small bearish candle. On Saturday, a cross star candlestick formed with reduced volume, followed by two small bullish candles with decreasing volume. The price has completed the process of "breaking down → accelerating down → first stabilization after falling," and is currently oscillating around the strongest Fibonacci resistance line at 61.8% (2750), which is a typical "first stabilization after falling into the deep value zone." The candlestick pattern shows a structure of "long lower shadow with volume + small bullish candle," indicating a weakening bearish trend and signaling a short-term stop-loss; the moving average system is completely bearish, but approaching the "oversold rebound zone." Generally, when the coin price drops more than -5% from MA14, the demand for a short-term rebound will increase, which is commonly referred to as a technical rebound; the MACD indicator's two lines are beginning to converge, and the negative value of the histogram is gradually shortening, indicating a significant weakening of bearish momentum, which generally means the decline momentum is exhausting → waiting for confirmation of a rebound; after a short-term panic sell-off on Friday, trading volume has entered a phantom state, and the slight adjustments in volume over the past two days suggest that the selling pressure has mostly been released in this round, with the marginal strength of the bears weakening, beginning to approach the "stage bottom turnover zone." In the following short-term rebound pressure zone, focus on the first resistance area around the 2950-3000 point range.
In day trading, pay close attention to the support level at 2800-2750 for rebound opportunities, and focus on the resistance level at 2900-2950 above.
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