Let's talk about the trend of Ethereum in the early morning of December 1st.

The 3100 position is quite critical now; whether it can break through will directly determine the future direction. If it can't break through, there is a high probability of a second deep adjustment. Looking at the daily chart, the RSI is nearly overbought, and the Bollinger Bands are also narrowing—this is often when a big move is brewing.

Once it breaks below the support around 3000, it basically has to test towards 2985.

How to operate? I think we can consider shorting in the range of 3045 to 3075, with target levels focused on 3025, 3000, and 2985. Of course, it also depends on the real-time changes in the market, so don't hold onto positions stubbornly.

ETH8.74%

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Rekt_Recovery

· 12-01 09:46

ngl this 3100 level is giving me ptsd from my last liquidation... The contraction of the Bollinger Bands indicates that the market is being suppressed, you know?

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LiquidityWhisperer

· 12-01 05:49

We really need to see if we can break through this level of 3100 today; I feel like we're going to have to wait to short again.

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PensionDestroyer

· 11-30 20:52

Whether 3100 breaks or not directly determines life and death, I feel that this wave is a pullback.

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PositionPhobia

· 11-30 20:49

If 3100 can't be broken, then it's over. I've closed all positions, haha.

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GasOptimizer

· 11-30 20:32

Whether 3100 breaks this line directly determines whether it is a Rebound or a breakdown, the data is right here. RSI Overbought Bollinger Bands are narrowing, a typical accumulation signal, just afraid of a sudden acceleration down.

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LayerZeroEnjoyer

· 11-30 20:31

If 3100 can't be broken, it will really fall back to 2985. This wave is a bit frustrating.

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rugpull_survivor

· 11-30 20:26

If it can't break 3100, we'll have to wait for a second deep adjustment. I bet it can't hold this time.

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