Liying in the cryptocurrency circle: 11.23 The shadow of Ethereum's reduction and sale! Why is the peak at 3400 so fragile? Latest market analysis
Article published on 2024.11.23----01:15
Ethereum is currently priced at 3319. The news should be clear to everyone. After Ethereum broke 3400, many large holders entered the market to chase the rise at high levels. The main force reversed and liquidated, plunging below 3270, and one liquidation amounted to over 100 million USD. The fear and greed in the market have occupied many people's ambitions. No matter what, we must protect our holdings. Everyone is waiting for a price rebound, but what comes is disappointment. We should view the market rationally and layout rationally; stop chasing rises and selling on dips. Isn't it better to listen to me and follow Liying?
From price trend analysis, the current K-line shape is fluctuating within the range of 3300 to 3400, forming a consolidation pattern. A long upper shadow appears on the daily K-line, indicating heavy selling pressure above. It is clear that the main force took profits after reaching 3430; otherwise, it wouldn't have fallen over a hundred points in liquidation. The answer is that the main force has enough chips at this position. In the technical indicators, the MACD in the 4-hour cycle shows that both DIF and DEA averages are gradually flattening, and the MACD histogram is shortening, indicating that the strength of bulls and bears is tending towards balance. Liying predicts that the market will once again enter a consolidation phase.
The Relative Strength Index (RSI) is currently around 60, having retreated from the overbought area, indicating weakening upward momentum, but still in a relatively strong area. The current price is below EMA7, close to EMA30, and EMA120 is far below the current price. The long-term trend remains upward, but there is short-term adjustment pressure. Additionally, the reduction in trading volume indicates that the willingness to chase prices is not strong, and the market is thick with wait-and-see sentiment. Will Liying's prediction of a consolidation market be validated? We will see. The mindset is similar to Bitcoin, primarily a low long strategy with a secondary high short strategy.
Latest reference points for today
Long position at 3200, add at 3150, stop at 3120, target 3400
Short position at 3400, add at 3450, stop at 3480, target 3250
The above analysis by Liying is based on market data and trend analysis of the order book and does not constitute investment advice. For family members' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of various digital assets. In this process, Liying has experienced both the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights and hopes to help others with dreams find their place in this unpredictable market and embark on their own journey to success.
The content of the article is time-sensitive and for reference only; the risk is borne by the reader.
