Cryptocurrency Circle Liying: Short-term pullback of Ethereum on December 19 does not change the long-term bullish outlook! The trend remains unchanged, waiting for a rebound! Latest market analysis

Article published on 2024.12.19----01:05

The current price of Ethereum is 3961. Yesterday's Liying strategy remains the same; although the market has pulled back in the short term, we should not change our main strategy, as the larger trend is still bullish. According to the current trend, it has reached a key support point, where the main force is accumulating. Liying suggests looking for opportunities to enter the market and start positioning to avoid missing the chance to get on board.

Looking at the current candlestick pattern, it is oscillating at a high level. On the 17th, a long upper shadow appeared, indicating significant selling pressure above. The candlesticks on the 18th and 19th show slight fluctuations, with market sentiment becoming cautious, and there is a possibility of further downside. The technical indicator MACD currently shows both DIF and DEA as negative, and the MACD histogram continues to be below the zero axis, indicating that bearish forces are dominant, but there are signs of convergence, which may face a rebound. Therefore, it is necessary to find opportunities to enter the market.

The Relative Strength Index (RSI) is close to the neutral zone around 45, not entering the overbought or oversold range, with no obvious trend signals in the short term. However, the long-term bullish outlook remains unchanged. The trend indicator EMA price is currently below EMA7 and EMA30 but above EMA120, indicating a short-term weakness, while the medium to long-term still shows a bullish pattern. The trading volume has increased, accompanied by a price pullback, indicating significant outflow pressure. In the short term, accumulation will continue, but the trend has not changed. Since we have reached the support level, we should enter the market and consider shorting only when we reach the resistance level.

Today's latest point of reference:

Long entry at 3800, add at 3750, stop at 3700, target at 3950

Short entry at 3950, add at 4000, stop at 4050, target at 3800

The above analysis is based on market data and trend analysis of the order book 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 experienced 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 successful journey.

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

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