November 23, Daily Chart Analysis: Bearish trend dominates, but indicators show room for a rebound. All three daily Exponential Moving Averages (EMAs) are above the current price and sloping downward. The EMA20 is below the EMA50, with the 200-day moving average in between, confirming a clear medium-term downtrend. The daily MACD is negative, but the histogram is just below zero, indicating that while downward momentum persists, it has slowed. The RSI reads around 32.8, near the oversold threshold, suggesting strong but weakening selling pressure. The Bollinger Bands contain the price near the lower band, with the lower band around $2,830 acting as a key medium-term support. If breached, a new downward phase may begin.

Short-Term Analysis: Consolidation with limited rebound momentum. On the 4-hour chart, the price is testing key support and there's a volume-price divergence—price rises while trading volume drops—hinting at insufficient short-term upward momentum. The KDJ indicator is in the oversold region, indicating potential for a technical rebound. The 1-hour chart appears slightly more stable, with the price fluctuating just below the 20-period moving average, RSI near 46 showing a relative balance between buyers and sellers, and the MACD histogram turning positive, indicating a mild recovery and release of excessive selling pressure. The 15-minute chart remains fragile, with the price slightly below the EMA20, negative MACD, and sellers still dominating the microstructure, making rebounds prone to selling pressure.

Key Levels and Trading Reference: On the support side, $3,000 is the core psychological level. Below that, $2,830 is the medium-term support aligned with the lower Bollinger Band; if broken, further downside towards $2,850 (whale average cost line) is possible. On the resistance side, the $3,200–$3,225 range is a strong resistance zone and has been a repeated barrier to rebounds. Failure to break above makes it difficult to reverse the short-term weakness; if breached, the next target is $3,400–$3,450.

Additional Technical Signals: On-chain data shows ETH reserves on exchanges are at multi-year lows, the EIP-1559 burn mechanism is reducing selling pressure, and whales have made substantial recent acquisitions, providing some support to price. The expected Fusaka upgrade in early December exists, but has not yet translated into strong short-term bullish momentum.

Overall, the technical outlook remains bearish, though a small technical rebound may occur in the short term. However, a breakout above key resistance is needed to reverse the weakness. In trading, pay close attention to the $3,000 support and $3,200 resistance levels. #逆势上涨币种推荐 $ETH ‌