In the cryptocurrency circle, Liying: The crazy rise of Ethereum on November 22! Chase the rise or wait for a pullback? Latest market analysis.
Article published on 2024.11.22----01:40.
Ethereum's current price is 3345. This round of price catch-up has directly broken the ascending flag pattern. According to the flag pattern approach, pay attention to the previous high of 3450. If broken, it will likely stretch above 3750 before stopping. The approach is to look for a pullback to the trend support point at 3200 to continue entering. Following the main force's consistent strategy, once it stretches, it is difficult to turn back and will not give another opportunity to enter. Nevertheless, Liying will still choose to wait for a pullback to support before entering, rather than chasing at such a high position now.
Liying's price trend analysis shows that the K-line pattern in the market is still clearly in an upward trend, especially after the one-sided catch-up that appeared after 8 PM last night, confirming this idea. On the daily chart, a long bullish candle was formed yesterday, breaking through the previous high of 3375, indicating that Liying supports strong bullish momentum. The technical indicators in the 4-hour cycle show that the MACD histogram has turned positive and continues to expand, with the DIF line crossing above the DEA line, reinforcing Liying's philosophy of primarily following the trend with bullish positions.
The current RSI value for the relative strength index is 68.96, close to the overbought zone but not in the extreme area. Liying judges that the upward space has not yet ended. The trend indicator EMA price has broken through EMA7, EMA30, and EMA120 moving averages, and EMA7 has crossed above EMA30 and EMA120, further confirming Liying's idea of an upward trend in the short term. The trading volume has increased along with the price rise, indicating positive capital inflow and enhanced bullish momentum. The trading volume on the daily level has also expanded compared to previous days, supporting the upward price trend, with the approach primarily bullish and secondary bearish.
Today's latest point reference.
Long position at 3250, add at 3200, stop at 3170, target 3450.
Short position at 3450, add at 3500, stop at 3530, target 3250.
The above analysis by Liying is based on market data and trend analysis and does not constitute investment advice. For family reference. Over the past ten years, Liying has continuously explored and experienced hundreds of various digital assets. In this process, Liying has experienced the glory of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights, hoping to help others with dreams find their place in this unpredictable market and embark on their own successful journey.
The content of the article is real-time and for reference only, at your own risk.
