Crypto Circle Li Ying: Bullish Trend Rises Again on 12.16! Ethereum's Next Target is Set at 4000! Latest Market Analysis

Article Release Time: 2024.12.16 ---- 01:20

Current Price of Ethereum is 3090, bottoming out at 3830 after a short position, the pending orders at 3800 did not execute, and now the market has returned to above 3900. The bullish trend is expected to continue extending. Yesterday, Li Ying also reminded everyone that before sending the article, the bearish momentum was very obvious and profitable. Do not be greedy, as it is better not to trade when the larger trend is bullish. Now that the market has broken 3900, it has confirmed Li Ying's statement.

Looking at the candlestick patterns around 3900, it has formed a relatively narrow fluctuation range. The daily candlestick chart shows some long upper and lower shadows, indicating fierce competition between bulls and bears. In the MACD four-hour technical indicator cycle, DIF and DEA are close to the zero axis, and the MACD histogram has turned from negative to positive, suggesting potential short-term rebound momentum. However, the overall trend still needs observation. After all, since we missed the entry point, we should wait for a pullback before taking a long position.

Currently, the Relative Strength Index (RSI) is around 50, not entering overbought or oversold territory, indicating the market is in a balanced state. The trend indicator EMA is currently above EMA7 but close to EMA30, while EMA120 is well below the current price. The short-term moving averages show some support, and the medium to long-term trend leans towards an upward direction. Additionally, the trading volume has increased at the key point of 3900, indicating strong bull-bear competition at this position. We will wait and see until a direction emerges before entering the market.

Today's Latest Price Reference

Long Entry at 3800, Add at 3750, Stop at 3700, Target at 4000

Short Entry at 4000, Add at 4050, Stop at 4100, Target at 3850

The above analysis is based on market data and trend analysis by Li Ying and does not constitute investment advice. For family reference $ETH #以太坊行情分析