Crypto Circle Liying: The short selling power weakened on 12.12! Does this mean that Ethereum's bull market will strike again? Latest market analysis

Article published on 2024.12.12 ---- 01:25 AM

Ethereum's current price is 3800, just as Liying predicted, it didn't break 3500, and the bullish trend continues. Although the best entry point was missed, Liying chose to enter at 3650 yesterday afternoon at four o'clock, which also provided a good space. The main force's attempt to break the resistance at 3850 failed, and pulling back to 3820 to take profits of 170 points is enough. In a bull market, pulling back to support allows for the placement of long positions, thus allowing continuous gains, maintaining a high win rate, and ensuring stable earnings.

Currently, in the market, Liying is still analyzing from the price trend perspective. The current K-line pattern showed significant fluctuations between the 9th and 11th, especially the long lower shadow on the 10th indicating strong buying support. The current K-line presents a clear upward oscillation trend but faces pressure near previous highs. This position can be referenced; if broken, it indicates that the bulls are continuing to strengthen. If not broken, wait for a pullback to continue going long. The technical indicators MACD show that both DIF and DEA are currently negative values, but the MACD histogram is gradually shortening, indicating that the bearish power is weakening, and the bullish trend continues.

The Relative Strength Index (RSI) has rebounded from the oversold zone and is currently close to the neutral zone of 50, indicating a recovery in market sentiment. The EMA trend indicator shows that the price is currently above EMA7 and approaching EMA30. If it can break through EMA30, it will further confirm the short-term rebound trend. Trading volume on the 10th significantly increased, and in the following days, trading volume decreased, indicating that funds entered the market to buy the dip after a crash. The main force's reversal to get on board has already occurred. Additionally, trading volume has remained relatively stable in recent cycles without significant expansion or contraction, which supports Liying's hypothesis that the bullish trend continues.

Today's latest reference points

Long entry at 3700, add at 3650, stop at 3600, target at 3850

Short entry at 3850, add at 3900, stop at 3950, target at 3700

The above analysis is based on Liying's conclusions drawn from market data and trend analysis and does not constitute investment advice. For family reference $ETH #以太坊行情分析