Cryptocurrency Circle Li Ying: The Ethereum pullback on September 30 does not indicate a bad situation! Instead, it is an excellent buying opportunity! Latest market analysis

Article published on September 30, 2024 — 15:00

As the market pulls back, it will return to normal; the market needs to digest selling pressure and cannot always move in one direction. Therefore, do not just focus on one direction, especially in the cryptocurrency space. To develop better in the cryptocurrency world, one must learn to be flexible. Over ten years, Li Ying has understood one principle: breaking through one's inherent perceptions is essential to see the path ahead clearly. I hope you can also break through and look at the current Ethereum market. The four-hour K-line pattern shows high-level fluctuations, with multiple long upper shadow K-lines indicating significant selling pressure above. From the 27th to the 30th, the price fell from a high of 2700 to 2625, forming a slight downward trend.

In the technical indicators for the four-hour cycle, the MACD fast and slow lines DIF and DEA are both diverging downwards, and the MACD histogram is negative, indicating further downward pressure in the short term. The RSI14 is around 43.75, showing insufficient buying power in the market; the market needs to retest support, which is consistent with Li Ying's predictions. The trend indicator EMA shows that the current price is below EMA7 and EMA30 but above EMA120. The short-term and medium-term moving averages are in a bearish arrangement, while the long-term moving average still maintains an upward trend. If the price continues to decline and breaks below EMA120, it may trigger a more significant downward trend. Therefore, while going long, one must also ensure defensive measures for safety first.

Currently, the trading volume at the market is decreasing, especially during the price decline, where the trading volume has not significantly increased, indicating that the current drop is more due to insufficient buying rather than massive selling. At this time, regardless of how intimidating the market looks, we must execute according to our plan and leave the rest to time and Li Ying's guidance. If wrong, admit the mistake and do not resist stubbornly. If right, then congratulations! Li Ying's comprehensive judgment: going long at support is effective; wait for the opportunity to consider going short.

Today's latest reference points:

Long entry at 2600, add position at 2550, stop loss at 2500, target at 2700

Short entry at 2700, add position at 2750, stop loss at 2780, target at 2650

Reason: The market touches the trend support point, making going long effective; one must ensure precautions. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

The above analysis by Li Ying is based on market data and trend analysis and is for reference only; it does not constitute investment advice. For family members' reference.

Over ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. In this process, Li Ying has gone through 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 and hopes to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

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