Cryptocurrency Circle Liying: Bullish trend rises again on 12.16! Ethereum's next target is set at 4000! Latest market analysis

Article published on 2024.12.16----01:20

Ethereum's current price is 3090, the short position ended at 3830, and the pending order at 3800 did not get filled. Now the market has returned above 3900, and the bullish trend is expected to continue. Yesterday, Liying also reminded everyone that before the article was published, the bearish momentum was indeed very obvious, and there was profit to be made. Do not be greedy, as the larger trend is bullish, and it is best not to trade against it. Now that the market has broken 3900, it has already validated Liying's statement.

Looking at the market's candlestick patterns, it is fluctuating around 3900, forming a relatively narrow range of oscillation. The daily candlestick chart shows some long upper and lower shadows, indicating fierce competition between bulls and bears. In the MACD four-hour technical indicator cycle, the DIF and DEA are close to the zero axis, and the MACD histogram has turned from negative to positive, suggesting that there may be rebound momentum in the short term. However, the overall trend still needs to be observed. After all, since we missed the entry point, we should wait for a pullback before primarily looking to go long.

The Relative Strength Index (RSI) is currently hovering around 50, not entering the overbought or oversold zones, indicating that the market is in a balanced state. The trend indicator EMA is currently above EMA7 but close to EMA30, while EMA120 is far below the current price. The short-term moving averages provide some support, and the medium to long-term trend leans towards an upward movement. Additionally, the trading volume has increased at the key level of 3900, indicating strong bullish and bearish competition at this position. We will wait and see which direction the market takes before entering.

Today's latest reference points:

Long entry at 3800, add at 3750, stop at 3700, target 4000

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

The above analysis is based on market data and trend analysis by Liying and does not constitute investment advice. For reference only. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying 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, Liying 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 journey to success.

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

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