[ETH] chart status

1D
The arrangement of Ethereum moving averages still doesn't look good.
There is a short-term rebound due to various factors such as expectations of a rate cut in December and the oversold RSI on the daily frame, but it seems to be just a technical rebound. There is no clear signal that the decline has ended. The encouraging point is that it has managed to stay above 2,879, and if it holds well, I think it might be possible to see a scenario similar to August to November of last year, where it consolidates for a few months in the left red box and then rises again.

4H
The appearance on the 4-hour frame looks a bit better.
First, the candle has risen above the middle line of the Bollinger Bands and has clearly broken above the descending trend line that had been providing resistance for about a month, creating a more definitive standard.
When candles are above the middle line of the Bollinger Bands, it is classified as a bull market, and when they are below, it is classified as a bear market.

✅Support zone that must be maintained✅

2,973

😡The line that must be defended😡

2,879 support line + downtrend line

✅Resistance level to break through✅

3,226

Personally, I feel like it will drop further based on my analysis, but it's a bit surprising that it hasn't and is holding up well. Perspectives can always be wrong, and we can't predict when it will drop or rise. All we can do is identify support/resistance levels in advance and respond mechanically according to what we've studied.

When you are about to get hit by the teacher at school, if you mentally prepare for it, it hurts a bit less when it happens.

Given the current difficult market conditions, please refrain from excessive seed allocation and leverage, so that you do not miss the opportunity to enjoy a warm end of the year.

The responsibility for all investments lies with the individual.
Just for reference:(