Crypto Circle Li Ying: Ethereum Reaches New Highs at 12.2! Are You Ready to Welcome the Next Wave of Profit Frenzy? Latest Market Analysis
Article Published on 2024.12.2----03:10
Current Price of Ethereum is 3715, breaking previous highs again, is it in line with Li Ying's expectations? Earlier at 3300, I reminded everyone not to withdraw all their chips, leaving some as a base position seems wise. Now, there aren’t suitable entry points for getting on board, so those who entered at 3300 and 3530 should not rush; take some profits first and hold the rest.
Based on price trend analysis, the current K-line pattern around 3700 is fluctuating, forming a relatively high consolidation area, so trading at this position is chasing highs and cutting losses. Li Ying does not recommend entering here again; those who exited should observe. For those who have entered, don’t be in a hurry to leave. Although there is some selling pressure above, it doesn’t rule out the possibility of a false breakdown. Even if there is selling pressure, it’s likely just to pick up buyers. The technical indicator MACD's current DIF is slightly below DEA, and the MACD histogram has turned negative, indicating a weakening of bullish momentum in the short term, and it may enter an adjustment phase.
The Relative Strength Index (RSI) is close to 63, in a neutral to strong range but has not entered the overbought zone, showing that there is still room for market growth but requires cautious observation. The trend indicator EMA is currently running above EMA7, indicating that the short-term trend remains upward and is also above EMA30 and EMA120, maintaining a good long-term trend. Additionally, the trading volume has increased, indicating heightened market activity. As the price fluctuates at high levels, trading volume is gradually decreasing, indicating a growing wait-and-see sentiment in the market; at this time, patiently waiting for the market to erupt is advised.
Today's Latest Reference Points
Long Entry Point 3600, Add Position 3550, Stop Loss 3500, Target 3750
Short Entry Point 3800, Add Position 3850, Stop Loss 3900, Target 3600
The above analysis is based on market data and trend analysis by Li Ying and does not constitute investment advice. For reference only $ETH