Technical Analysis and Trading Strategy of Zhenghe (ETH) on November 29

• Support levels: 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 repeated test level), strong resistance 3070-3075 (upper range), target resistance 3170-3200, 3450-3550 (wave theory target levels)
Technical Indicator Signal
• Daily level: EMA20 and EMA50 form support, the trend is oscillating with a slight bullish bias, and there is no significant upward pressure. 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 dominating. RSI is recovering from a low position, with no significant volume-price divergence.
• Short-term signal: The 15-minute chart forms multiple tops near 3050, with bearish indicators showing reduced 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 position when the price pulls back to the 3035-3040 range, with a stop loss below 3028; add to the position after breaking 3060 and confirming its validity, with targets at 3075 and then 3170-3200.
• Short selling strategy: Lightly short in the 3055-3060 range, with a stop loss above 3075; after breaking the neckline at 2977, add positions in line with the trend, target 2925-2900.
• Trading strategy: Maintain the 2925 long-short watershed; liquidate long positions immediately if it falls below this level; in a bullish trend, use 3000 as the defensive line, reduce positions and observe if it falls below this level.
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