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11.12 Ethereum Latest Analysis
- Daily Chart: Continuous resistance at the midline followed by a series of downward candles, indicating a weak trend; MACD histogram turns green then crosses below, RSI drops below 40, continuing the bearish trend. If it fails to hold above 3450, downside risk increases, with key support focused on the 3350-3300 range; 3300 is a short-term strong support level.
- 4-Hour Chart: Weak oscillation along the lower Bollinger Band, MACD green bars continue to expand, RSI remains low, indicating severely lacking upward momentum. Although a technical rebound may occur, it lacks volume support and is unlikely to change the overall weak trend.
- 15-Minute Chart: Repeated consolidation around 3400, slight bullish divergence in MACD appears, possibly triggering a minor rebound to repair recent losses. However, overhead resistance is dense, limiting the rebound space; this is likely a brief correction within a weak trend.
Short Position: 3470–3500
Target Levels: 3400, 3330