Crypto Circle Li Ying: 12.4 Ethereum bullish trend remains, bearish forces are 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 buyers, have you boarded? Yesterday, Li Ying suggested a buying point at 3500, taking profit at 3600, another precise strike, it can be said that it entered at the intraday low and exited at the highest point. No rush, this week belongs to the non-farm week with significant market fluctuations. Similarly, the probability of the main force reversing to pick up buyers is greater, so patiently wait for a pullback before entering. Currently, both long and short positions at this level carry risks.
Li Ying still analyzes from the price trend. The current K-line 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 K-line chart, the 2nd and 3rd days have consecutively closed with bearish candles, indicating a short-term bearish market sentiment. The larger trend is still bullish, so wait for further exploration of the bottom before continuing to enter long positions. The technical indicator MACD on the 4-hour cycle shows the fast and slow lines crossing downwards and moving away from the zero axis, indicating short-term adjustment pressure.
The Relative Strength Index (RSI) has fallen from the overbought area and is currently in a neutral zone, but further declines should still be monitored. The trend indicator EMA shows 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 accompanying price declines, this shows that selling pressure is strengthening. The market has a high probability of further breaking previous lows to seek strong support. The larger bullish trend prevails, while the short-term trend is mainly bearish, so wait for opportunities to focus on low buying and short selling strategies, and manage risks well.
Today's latest reference points
Long entry at 3500, add at 3450, stop at 3400, target 3650
Short entry at 3700, add at 3750, stop at 3800, target 3550
The above analysis by Li Ying is based on market data and trend analysis from the order book, and does not constitute investment advice. For reference only for family members. Over the past ten years, Li Ying has continuously explored, experiencing hundreds of diverse digital assets. In this process, Li Ying has gone through the market's thriving bull markets and the bleak bear markets, accumulating countless precious experiences and profound lessons. As a female trader striving in this challenging field, Li Ying feels a responsibility to share her insights, hoping to assist others with dreams in finding their place in this ever-changing market and starting their own successful journey.
The content of the article is time-sensitive and for reference only, risk is borne by oneself
