Title: Can Ethereum Break Through and Reverse? Focus on Short-term Moving Averages and Long-term Trends! Latest Market Analysis
Article Release Time: 2024.9.12—06:00
Ethereum has been testing the upper resistance and support levels back and forth. Currently, the candlestick pattern shows that the price has been fluctuating in the range of 2300 to 2400, indicating significant oscillation and consolidation. There have been multiple long lower shadows and upper shadows, indicating intense market competition between bulls and bears. The bulls have not completely taken control, but market sentiment is gradually picking up, so the probability of testing the top is high.
Technical Indicator MACD: The current DIF and DEA are both positive, showing a short-term upward trend, but beware of potential divergence signals. RSI Indicator: RSI14 is close to 50, in the neutral zone, with no overbought or oversold conditions, indicating that the market currently lacks a clear direction for both bulls and bears. What should be done? Liying's advice is to follow the trend.
Looking at the trend indicator EMA7, it is slightly higher than the current price at 2340. Also, EMA30 and 120 are respectively lower and much higher than the current price, indicating that the short-term moving average provides support while the medium and long-term moving averages still suggest an upward trend. The key level to watch is the EMA120 resistance at 2450. Due to the buy volume being higher than the sell volume, the strategy leans towards being long with short positions as a supplement.
Today's Latest Reference Points
Long position entry point: 2300, additional buy-in point: 2270, stop-loss point: 2240
Short position entry point: 2450, additional buy-in point: 2480, stop-loss point: 2500
The above analysis by Liying is based on market data and trend analysis of the order book, and is for reference only. It does not constitute investment advice. It is for the reference of family members. Over the past decade, Liying has continuously explored and experienced hundreds of different types of digital assets. In this process, she has experienced the brilliance of bull markets and the dimness of bear markets, accumulating numerous valuable experiences and profound lessons. As a female trader who has been striving in this challenging field, Liying feels a responsibility to share her insights and hopes to help others with dreams find their position in this unpredictable market and embark on their own journey to success.
The content of the article is time-sensitive and is for reference only. Trade at your own risk.
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