Medium-term trend correlation: On November 24, the valuation ratio of Ethereum against Bitcoin continued to decline, remaining in a weak linkage state following Bitcoin. From a weekly perspective, the 50-day MA is showing a flat trend, while the 200-day MA maintains an upward slope, indicating that the medium to long-term trend framework has not been broken. The current price is in the second wave pullback phase of Elliott Waves, nearing the 0.618 Fibonacci retracement level around $2748. If the price can hold the $2700 long positions lifeline on that day, there is a possibility of replicating the historical rebound script in the medium term; however, if it falls below this level, the price may progress towards the strong support area at $2100, and this weak state is likely to continue until the key turning point in early December. #非农数据超预期 $ETH