11.16 High-level shipment, the main force is taking action! Can Ethereum make a comeback? Latest market analysis
Article release time 2024.11.16----02:15
The current price of Ethereum is 3036. I have waited for a day but did not choose to enter the market. The trend has been testing the bottom support and breaking the previous low continuously, from 3100 to 3050, and finally falling below 3020, indicating that the market may still have the possibility of further bottoming out. The upward stretching momentum is insufficient. Liying's suggestion is to wait until the decline stops before choosing the direction. Don't rush to enter the market for the time being.
First of all, from the price trend analysis, the current K-line pattern of the market is obviously in a volatile downward trend. The price has gradually fallen from the high of 3375 on the 12th to the current 3028. In the 4-hour cycle, there are many long upper shadows and negative lines, indicating that the upper selling pressure is heavy, and the main force is still shipping. Continuous shipping has appeared at high levels. The technical indicator MACD is in the 4-hour cycle. The MACD bar chart continues to be negative and expands. The DIF line and the DEA line form a dead cross and diverge downward, indicating that the short-selling force is strengthened.
The relative strength index RSI value hovers around 42, not entering the oversold zone, but below 50, indicating that the market is weak. The current price of the trend indicator EMA is below EMA7 and EMA30. The short-term moving average shows a short position arrangement. EMA120 is still a long-term support. The trading volume is increasing with the decline in prices. The short position continues to exert its strength, causing the price to break the previous low continuously. It is not ruled out that the main force will continue to ship. Liying recommends patiently waiting for the market to stop falling before choosing a direction.
Today's latest point reference
Long point 2950, supplement 2900, stop 2870, target 3100
Short point 3100, supplement 3150, stop 3180, target 3000
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