Liying in the crypto world: No pullback in the overbought zone on 12.6! How much room is there for Ethereum to rise? Latest market analysis
Article published on 2024.12.6----02:30
Ethereum's current price is 3900, with Liying's entry point at 3550. Just a reminder for everyone not to rush to get off the bus, especially for those who entered at 3300 and 3450. Holding at 4000 is not the key; finding the right position can let profits run. If a crucial support level is broken on a pullback, you can take profits. No matter where it ends up, we can secure our gains. For those who haven’t entered yet, just go with the flow and continue to buy on dips.
Looking at Liying's analysis, the current K-line pattern in the order book shows a clear upward trend, especially with the large upward candles on the 4th and 5th. From the 3rd to the 5th, it has formed an ascending triangle breakout pattern, indicating strong bullish sentiment in the market, which aligns with Liying's thoughts. The MACD histogram is continuously expanding above the zero axis, indicating increased bullish momentum. Both DIF and DEA are diverging upward, supporting the current upward trend.
The relative strength index (RSI) is currently in the overbought zone above 70, but there are no signs of a pullback yet, indicating that there may still be further upward space. The trend indicator EMA short-term EMA7 has crossed above the medium and long-term EMA30 and EMA120, and the price has been consistently running above EMA7, showing a strong upward trend. Coupled with an increase in trading volume and rising prices, in this situation, do not doubt the bulls' determination, and do not go short; the current main line of thought is to buy on dips.
Latest reference point today
Long position at 3800, cover at 3750, stop at 3700, target at 4000
Short position at 4000, cover at 5050, stop at 4100, target at 3800
The above analysis by Liying is based on market data and trend analysis of the order book and does not constitute investment advice. For reference by family members. Over the past ten years, Liying has continuously explored and experienced hundreds of various digital assets. In this process, Liying has gone through the brilliance of bull markets and the darkness 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, hoping to help others with dreams find their position in this unpredictable market and start their own journey to success.
Article content is timely and for reference only; risks are borne by the reader.
