Cryptocurrency Circle Li Ying: Another surge on 12.13 and we’re heading to the sky! Will Ethereum break the 4000 mark at a touch? Latest market analysis

Article published on 2024.12.13----01:00

Ethereum's current price is 3930, very close to the 4000 mark before publication. Just one more stretch and it’s a simple matter of getting over the line. The strength of the bulls is stronger than that of the bears, so don’t doubt it. If you got in at 3830 today, don’t rush to leave. The bullish trend hasn’t ended yet; unless it retraces and breaks below 3900, you can hold on and look for the previous high. Go with the trend, especially given the current strong market conditions. Leaving prematurely could mean missing the best entry point.

From the price trend analysis, the current K-line pattern shows a rapid rebound from the low of 3628.41 on the 11th to the high of 3985.3 on the 13th, forming a clear V-shaped reversal. On the daily K-line, there have been three consecutive days of positive closes from the 10th to the 12th, indicating strong upward momentum and clarifying the upward trend. In the technical indicators, the four-hour MACD cycle shows that DIF and DEA are gradually rising and approaching the zero axis, with the MACD histogram turning from negative to positive, indicating a strengthening of bullish power in the short term.

The Relative Strength Index (RSI) is currently around 60, which is in a relatively healthy range, but caution is needed for the risk of a pullback after entering the overbought area. The trend indicator EMA shows the current price above EMA7 and has broken through EMA30, signaling an upward trend in the short term. EMA120 is far below the current price, indicating a long-term bullish trend. Additionally, the trading volume accompanying the significant price increase shows that market participants are becoming more active. Although the trading volume of the subsequent K-lines has decreased, the price continues to rise, indicating that market sentiment remains optimistic, with bulls in control. The strategy remains focused on buying low, with selling as a secondary consideration.

Today's latest point of reference

Long entry at 3850, add at 3800, stop at 3750, target 4000

Short entry at 4000, add at 4050, stop at 4100, target 3850

The above analysis by Li Ying is based on market data and trend analysis and does not constitute investment advice. For reference only. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Li Ying feels a responsibility to share her insights, hoping to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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