Cryptocurrency Li Ying: The bullish trend of Ethereum at 12.4 remains, while the bearish strength is rising! The key is where? Latest market analysis

Article published on 2024.12.4----02:10

Current price of Ethereum is 3575, the market is reversing again to pick up, have you boarded? Yesterday, Li Ying suggested getting in at 3500, and taking profits at 3600, another precise strike, it can be said to have entered at the day's lowest point and exited at the highest point. There is no rush; this week belongs to the non-farm payroll week, and the market fluctuations are relatively large. Similarly, the probability of the main force picking up is greater, so be patient and wait for a pullback before entering. Currently, both long and short positions carry risks.

Li Ying is still analyzing from the price trend; the current candlestick pattern is still oscillating at a high level, with multiple long upper shadows indicating heavy selling pressure above, which is a normal phenomenon. In the daily candlestick chart, the 2nd and 3rd days both closed with bearish candles, indicating that market sentiment is leaning bearish in the short term, but the larger trend remains bullish. So we will wait for further bottom testing before continuing to enter long positions. The technical indicator MACD shows that the fast and slow lines of the 4-hour cycle are crossing downwards and moving away from the zero line, indicating short-term pullback pressure.

The Relative Strength Index (RSI) has retreated from the overbought zone and is currently in the neutral area, but we still need to be wary of the possibility of further declines. The trend indicator EMA shows that the current price has fallen below EMA7 and EMA30, approaching EMA120. If it continues to decline, EMA120 will become an important support. Coupled with increased trading volume and falling prices, this indicates enhanced selling pressure, and the market is very likely to further break previous lows in search of strong support. The larger bullish trend leads, while the short-term trend is mainly bearish, so we will wait for opportunities to focus on low long positions, with short positions as supplementary strategy, ensuring good risk management.

Today's latest reference points

Long entry at 3500, add at 3450, stop at 3400, target at 3650

Short entry at 3700, add at 3750, stop at 3800, target at 3550

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