Coin Circle Liying: 11.16 high-level shipments, the main force is in action! Can Ethereum counterattack? Latest market analysis
Article published on 2024.11.16----02:15
Ethereum is currently priced at 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 lows continuously, from 3100 to 3050, and finally falling below 3020, indicating that the market may further bottom out. The upward momentum is insufficient. Liying's suggestion is to wait until the decline stops before choosing a direction. Don't rush to enter the market for the time being.
First of all, from the analysis of price trend, the current K-line pattern shows an obvious downward trend of shock. 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 selling pressure from above is heavy. The main force is still selling. Continuous selling has occurred at high levels. The technical indicator MACD is in a 4-hour cycle. The MACD histogram 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 increasing.
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
Go long at 2950, fill at 2900, stop at 2870, target at 3100
Short point 3100, cover 3150, stop 3180, target 3000
The above analysis is based on the conclusions drawn by Liying based on the trend analysis of market data and the market, and does not constitute investment advice. It is for reference by family members. In the past ten years, Liying has been exploring and experiencing hundreds of various digital assets. In this process, Liying has experienced the glory of the bull market and the bleakness of the bear market. She has accumulated countless valuable experiences and profound lessons along the way. As a female trader struggling in this challenging field, Liying feels deeply responsible to share her experience and insights, hoping to help other people with dreams find their place in this turbulent market and start their own journey to success.
The content of the article is real-time and for reference only. Risks are borne by the user.
