Coin Circle Li Ying: Although Ethereum experienced setbacks on December 10, the bears failed to dominate the situation! The long-term trend remains upward, latest market analysis

Article published on 2024.12.10----01:10

Current price of Ethereum is 3859. Let's review the content of yesterday's article. Li Ying suggested a bullish approach, reminding everyone not to short. The reason is simple: the bullish trend is the main direction, and effective support at pullbacks is a good opportunity to go long. This is the main strategy, especially for the bullish entry points at 3900 and 3800, both of which have hit the pullback levels. If you haven't entered yet, you should consider it, while setting appropriate take-profit and stop-loss levels. Li Ying would like to remind everyone to execute according to the system within the trading range; if wrong, just cut losses, and if right, the potential gains will not be small.

Looking at the current market situation, Li Ying still analyzes from the price trend. Currently, the candlestick pattern near 4000 is facing strong resistance, with multiple upper shadows indicating heavy selling pressure above. The recent candlesticks are showing an alternating pattern of ups and downs, generally leaning towards a downward adjustment. In the four-hour MACD cycle, both DIF and DEA averages are gradually declining, and the MACD histogram is in negative territory, indicating that bearish forces are dominant in the short term.

The current Relative Strength Index (RSI) is at 43.34, close to the oversold region but not in extreme territory, showing that market sentiment is weak but not excessively panic-stricken. The trend indicator EMA price is currently running below EMA7, and EMA30 is also above the current price, forming short-term pressure. EMA120 is far below the current price, indicating that the long-term trend remains upward. After a significant increase in trading volume on the 6th, the volume has significantly expanded and then gradually decreased, showing a weakening of the capital's willingness to chase prices, with no obvious signs of volume expansion or contraction. Therefore, Li Ying assesses that the market is likely to further test the bottom. It is recommended to test the bottom again before continuing to average up while setting stop-losses. The main strategy is to go long, and wait for a break above 4000 to short; temporarily, do not short.

Today's latest point of reference

Long entry point 3700, add at 3600, stop at 3550, target 4000

Short entry point 4000, add at 4100, stop at 4150, target 3800

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