Liying in the crypto circle: Waiting for the bottom signal on December 3rd! Will the psychological barrier of Ethereum at 3500 be broken? Latest market analysis.
Article published on 2024.12.3 ---- 01:45.
Current price of Ethereum is 3596. Let's review: In yesterday's article, Liying advised everyone not to rush to exit, as this wave could break the previous high and reach 3765. Did it break the illusion? Although the main force has begun to take profits and liquidate long positions, it doesn't matter how we liquidate at our entry point. Since it has fallen below the key support of 3700, there is no need to insist; exit first and wait for the next bottoming out to consider. The major support level is clear to everyone; indeed, it is the psychological barrier above 3500. Let's look at the order book.
Liying's analysis is based on price trend analysis. The K-line pattern in the market is oscillating at a high level, with multiple long upper shadows indicating heavy selling pressure above. The main force has begun to take profits clearly. The most recent K-line is a bearish line that has broken through the previous low support, showing short-term adjustment pressure. After the adjustment ends, the MACD technical indicator shows that both DIF and DEA are diverging downwards. The MACD histogram has turned from positive to negative, indicating an increase in bearish strength. The possibility of a deep bottoming out in the short term is increasing, and our opportunity is coming soon.
The Relative Strength Index (RSI) has fallen from the overbought zone and is currently in a neutral to weak area, indicating weakening upward momentum. The main force has begun to liquidate long positions. The trend indicator EMA shows that the current price has fallen below EMA7 and is close to EMA30. If it continues to decline, it may test the support of EMA120. Additionally, as trading volume increases significantly, it indicates a strong market selling sentiment. We are still at a relatively high position and need to be wary of further downside risk. Therefore, wait for clear support after bottoming out before entering the market and continue to hold long positions as the main strategy; short positions are not considered for now.
Latest reference points for today.
Long position at 3500, add at 3450, stop at 3400, target 3650.
Short position at 3700, add at 3750, stop at 3800, target 3550.
The above analysis is based on market data and trend analysis of the order book, and does not constitute investment advice. For family reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has experienced the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons. 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 position in this ever-changing market and embark on their own successful journey.
The content of the article is real-time and for reference only, the risk is borne by oneself.
