ETH Zhenghe Technical Analysis Report for Late November 2025

Recent market background: Ethereum also experienced a significant decline in November, with a monthly drop of 24.8%, falling from $3918 to $2946. On the 27th, the market rebounded and broke through the key psychological level of $3000, and on the 28th, the price faced resistance and pulled back around the $3070 level, entering a consolidation phase.
Interpretation of Core Technical Indicators
MACD Indicator: The daily level histogram has turned red for five consecutive days, although it remains below the zero line, the momentum recovery continues to strengthen; at the 4-hour level, the DIF and DEA have achieved a secondary golden cross above the zero line, releasing a clear bullish signal, supporting the expectation of price recovery.
RSI Indicator: Gradually rebounding from the oversold area, indicating that the bearish momentum is continuously weakening, providing support for a price rebound.
Patterns and Moving Averages: The daily level is forming a double bottom structure, with a long lower shadow hammer candlestick appearing at the 4-hour level and confirmed by three bullish candles. The price has broken through the neckline at 3050. The current price is stabilizing within the short-term support zone formed by EMA7 and EMA30, but the upper EMA120 (3119) is forming a clear resistance. At the same time, an ascending triangle pattern is being formed overall, with higher lows converging towards the horizontal resistance line around 3650 USD, which historically has a higher probability of bullish breakout.
Key Support and Resistance Levels
Resistance level: 3070 is under short-term pressure, with subsequent resistance at 3100 - 3130 USD being suppressed by EMA120; further resistance is at 3200 USD, as well as the ascending triangle horizontal resistance line near 3650 USD.
Support level: $2930 is the current key support; strong support below is in the $2840 - $2860 range; long-term attention should be paid to the $2000 level, with analysts warning that prices may drop 28% to this position due to fluctuations in on-chain indicators.
Market Prediction: In the short term, it is in a fluctuating upward pattern. If it can hold the $3000 level and successfully break through the $3119 EMA120 resistance, it is expected to challenge $3200 and even higher at $3650. However, before effectively breaking through the key resistance, the fluctuating pattern is unlikely to fundamentally change. In addition, on-chain data such as whale accumulation and increased staking volume indicate an improvement in the long-term fundamentals, which may provide support for subsequent price increases. #成长值抽奖赢iPhone17和周边 $ETH