Cryptocurrency Li Ying: The Relative Strength Index of Ethereum approaches its peak on 12.9! Will the future direction be upward or downward? Latest market analysis

Article published on 2024.12.9----01:00

Current price of Ethereum is 3988, almost back to the same position as yesterday, which was 3990 at the time of writing; today it is 3988. However, this does not affect the trend of the larger bullish market. Overall, it has entered a very violent upward channel, achieving a triple jump, entering a new dimension. At this point, one cannot adopt the traditional idea of shorting on highs, as the larger trend is significantly bullish. Li Ying reminds everyone to follow the trend and primarily go long; avoid shorting if possible.

Looking at the current market, Li Ying first analyzes the price trend. Currently, the K-line pattern around the 4000 level is oscillating, with multiple tests above 4000 failing to effectively break through, indicating strong resistance. The daily K-line shows a combination of a high position doji and small bearish candles, indicating that the forces of bulls and bears are relatively balanced. In the short term, there may be a direction choice. The technical indicators show that the four-hour MACD cycle's DIF and DEA are gradually declining, and the MACD histogram has shifted from positive to negative, indicating short-term correction pressure.

The current Relative Strength Index (RSI) is close to 60, in a neutral to slightly strong area, but there are no obvious overbought or oversold signals. Attention should be paid to whether it will drop below 50 to confirm a downward trend. The EMA trend indicator is currently hovering around EMA7, while EMA30 and EMA120 are still upward. The long-term trend remains bullish, but there is a risk of short-term adjustment. Trading volume has decreased; Li Ying notices that especially when the price approaches 4000, there is a strong market wait-and-see sentiment. Li Ying reminds everyone to be cautious of correction risks and that conservative traders should wait for a key support pullback opportunity before entering long positions.

Today's latest point reference

Long entry point 3900, add at 3800, stop at 3750, target 4050

Short entry point 4100, add at 4150, stop at 4200, target 3950

The above analysis by Li Ying is based on market data and trend analysis and does not constitute investment advice. For family reference #以太坊行情分析 $ETH