Technical Analysis and trading strategy for Zhenghe (ETH) on November 29

• Support Level: First support 3030-3035 (multi-period resonance support), strong support 2970-2977 (neckline position), extreme support 2925 (bull-bear watershed)
• Resistance Levels: First resistance 3055-3060 (short-term repeatedly tested level), strong resistance 3070-3075 (upper range), target resistance 3170-3200, 3450-3550 (wave theory target levels)
Technical Indicator Signals
• Daily level: EMA20 and EMA50 form support, the trend is oscillating with a slight bullish bias, and there is no significant pressure above. On-chain data shows that long-term holders continue to accumulate.
• 4-hour level: Price is fluctuating in the 3000-3075 range, with buying pressure slightly in the lead, RSI is recovering from a low position, and there is no significant volume-price divergence.
• Short-term signals: The 15-minute chart has formed multiple tops around 3050, with bearish indicators decreasing in volume. The probability of a short-term rebound is relatively high, but caution is needed for the false breakout risk in the 3050-3060 range.
trading strategy
• Long strategy: Build a position when the pullback reaches the 3035-3040 range, with a stop loss below 3028; increase position after breaking 3060 and confirming its validity, with targets sequentially at 3075, 3170-3200.
• Short selling strategy: Lightly short in the 3055-3060 range, with a stop loss above 3075; after breaking below the 2977 neckline, increase position in the direction of the trend, with a target of 2925-2900.
• Position Strategy: Stick to the 2925 long-short watershed; immediately liquidate long positions if it falls below this level; in a bullish trend, use 3000 as the defensive line, and reduce positions to observe if it is breached.
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