📊 The latest market situation of Ethereum #ETH on November 30th noon.

In simple terms, the market is currently in a consolidation phase before choosing a direction. The price attempted to rally on November 29 but failed to effectively break through the resistance zone of $3048-$3065, and subsequently fell back to around $2990.
• Technical Signal: Currently, the 4-hour chart shows that the price is below the moving average system, and a "bearish engulfing" candlestick pattern has recently appeared, suggesting a weakening of short-term momentum, with bears slightly in control. However, the $2620-$2650 area is regarded as recent "absolute emotional support", showing strong support during the pullback in November. The MACD indicator shows that bearish strength dominates, but there are signs of a decrease in momentum.
• Funds and Sentiment: Market sentiment is relatively cautious. Although there has been inflow of funds into the Ethereum spot ETF recently, the overall spot market is still experiencing net outflows, leading to a contradictory situation that results in weak upward price movement and stagnation. Furthermore, all major moving averages (such as the 20-day moving average at $3115 and the 50-day moving average at $3481) are positioned above the current price, creating significant resistance, and the overall trend remains bearish.
• Key observation points: 2960-3000 USD is the core support zone in the recent period. If it breaks down with volume, it may drop to 2870-2900 USD or even lower. The 3048-3100 USD range above has formed a strong resistance area. If it can break through with volume, it may reverse the short-term weakness and test the 3160-3200 USD region upwards.
⚠️ Important Risk Warning
1. Key Level Verification: The support zone of $2960-$2980 is a critical lifeline for both bulls and bears in the short term, and its loss or gain is very crucial. The breakthrough of the resistance zone of $3048-$3065 requires a significant increase in trading volume; otherwise, it is very likely to be a false breakout.
2. Event-driven volatility: The Federal Reserve's interest rate meeting in December (expected around December 10) and key economic data (such as PCE) may trigger significant market volatility. It is advisable to strictly control positions before the event.
3. Market Correlation Risk: It is necessary to closely monitor whether Bitcoin (BTC) can stabilize at the $90,000 level, as its movement will have a significant impact on ETH.
The market has risks; investment requires caution. The above analysis is based on publicly available data and technical indicators and does not constitute investment advice. $ETH