Coin Circle Liying: Ethereum faces a choice on October 3! Will it rebound? Or will it bottom out again? Latest market analysis
Article published on 2024.10.3—14:25
Generally, after a one-sided market, there will be a long period of sideways state, especially the trend of Ethereum that cannot fall after each bottoming out at 2300. It is not difficult for Liying to judge that this time the market will also be sideways, especially now it has been testing back and forth below 2400. First of all, Liying will give you a reference from the price trend analysis.
First, let's look at the four-hour K-line pattern of the market, which shows an obvious downward trend. During the sharp decline on the 1st and 2nd, a long negative line was formed. There was a certain degree of rebound on the 3rd, but the overall situation is still in a low-level oscillation state. Technical indicator MACD: The current MACD histogram is in the negative area, and both DIF and DEA diverge downward, indicating that the short-selling force is strong. Then look at the RSI value close to 30 and enter the oversold range, so Liying judges that the market will have a technical rebound, but we need to be vigilant against continued weakness.
The trend indicator short-term EMA7 has fallen below the long-term EMA30 and 120, indicating that the market is bearish in the short term. The current price is running below EMA7, and there is a certain amount of pressure. In addition, the trading volume increased significantly from 01 to 02, and the price dropped sharply, indicating that the selling pressure is heavy. At this time, Liying believes that the market sentiment is tending to Be cautious, the wait-and-see atmosphere is strong, compare formulas and do swings,
Today's latest point reference: (horizontal)
Long point 2300, cover point 2250, stop loss 2220, target 2400
Short point 2500, cover point 2550, stop loss 2580, target 2400
Reason: After the unilateral trend, the market sentiment needs to be repaired sideways. Stabilizing the market is a normal trend, so Liying uses conventional thinking to judge. The content of the article is real-time and is for reference only. Risks are borne by the investor.
The above analysis is based on the conclusions drawn by Liying based on the trend analysis of market data and the market, which is for reference only and does not constitute investment advice. 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.
