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#加密市场回调 11.20 after-hours Ethereum observation
On the hourly chart, Ether is starting to test the support below again. After hitting a new low last night, it pulled back for a wave of rebound, but this round of rebound failed to break through the 3110 hurdle. Technically speaking, a rebound that does not exceed the previous high indicates insufficient upward momentum, and it is likely to need a second retest to confirm support.
If this pullback breaks through the 2960 neckline support, it may test the previous low position. To reverse upwards, it is essential to first break through the 3110 previous high point to have a chance. Currently, the market is neither going up nor down, and in the short term, it may fluctuate back and forth within the 3050-2960 range.
There are important data to be released tonight, so it is recommended to wait for the news to settle before taking action.
Here are two operational approaches for reference:
Breakout strategy: After the price stabilizes at 3050, follow up on the right side to go long, targeting the 3110-3170 area.
Downward route: Short after breaking below 2995, with a target around 2910.
$BTC $ETH