Liying from the cryptocurrency circle: 11.19 Ethereum's short-term pullback becomes a good opportunity for layout! Undervalued? The strong bullish momentum in the large bullish candlestick shows strong buying power! Latest market analysis
Article published on 2024.11.19—08:40
The current price of Ethereum is 3170, and the golden cross trend has formed. Ethereum has finally shown a decent rebound, although it has only recovered 100 points. This is a positive signal for the market. After continuously pulling back to the 3000 mark, shorts were liquidated, and a 200-point rebound occurred. Although there has been no effective entry yet, the market has remained in a wait-and-see phase without effective bottoming or clear support, making it unwise to enter easily. The trend remains bullish, and naturally, the main strategy should be to follow the trend with long positions.
Liying's analysis is based on price trends. Currently, the candlestick pattern in the market fluctuates around 3200, showing signs of certain fluctuations and adjustments. The previous high point of 3228 forms a short-term resistance level, while the previous low of 3051 provides support. The technical indicators MACD currently show both DIF and DEA as positive values, but the MACD histogram indicates a weakening bullish trend, so subsequent changes need to be monitored. Liying suggests waiting for effective support on a pullback before entering long positions.
The relative strength index RSI is close to the neutral zone at 52.6, not entering the overbought or oversold range, indicating that the market temporarily lacks extreme emotions. The trend indicators EMA7, EMA30, and EMA120 show a bullish arrangement, suggesting an upward trend in the short term, but caution is needed regarding the risk of a pullback. Think rationally and arrange positions without chasing highs or cutting losses. Wait for a clear pullback before making decisions, as trading volume has recently increased, especially with yesterday's large bullish candlestick, indicating strong buying power. However, the current trading volume has slightly decreased, which may signal an increase in market wait-and-see sentiment. A pullback to accumulate positions is needed, so wait for that before entering the market.
Short-term strategy reference:
Long position at 3100, defense at 3060, stop loss at 3030, target 3250
Short position at 3230, defense at 3280, stop loss at 3310, target 3100
The above is Liying's brief analysis of the current market situation for investors' reference. Over ten years, Liying has continuously explored and experienced hundreds of different digital assets. In this process, Liying has experienced the brilliance of market bull runs and the dullness of bear markets, accumulating countless precious experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights and hopes to help others with dreams find their place in this volatile market and embark on their own successful journeys.
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