Cryptocurrency Circle Liying: The 10.5 Bullish Halo is Coming Soon! A Large-Scale Battle for Ethereum is Emerging in the Short Term! Latest Market Analysis

Article Published on 2024.10.5 — 13:45

The consolidation continues, with a small upward channel appearing. The short-term upward channel does not require too much concern; the resistance in the short term is still quite obvious, with the resistance point of the ascending box reaching 2450. Now we need to see if it can break through and continue to stretch, so we can focus on this price level. Next, let's look at Liying's trend analysis.

Currently, the K-line pattern is fluctuating around the price of 2400, forming a small box consolidation. On the 4th, a long lower shadow appeared, indicating strong buying support. Technical indicator MACD: Currently, both DIF and DEA are negative, but the MACD histogram is starting to shorten, indicating that bearish momentum is weakening and may turn bullish, so we can try a long position.

Looking at the RSI, it has rebounded from the oversold area and is currently in the neutral zone, showing that market sentiment is gradually stabilizing. The trend indicator EMA price is currently above EMA7 but below EMA30 and EMA120, indicating short-term rebound signs, but overall it is still in a downtrend. Therefore, if long positions encounter significant resistance, it is advisable to take profits and exit. Trading volume has decreased, and market sentiment is increasingly cautious.

Today's latest reference points: (Consolidation)

Long entry point 2300, add position point 2250, stop loss 2220, target 2400

Short entry point 2500, add position point 2550, stop loss 2580, target 2400

Reason: Consolidation market, both long and short have space to capture, and decisive exit is needed when encountering resistance. The practical results can be checked with Liying. The content of the article is real-time and for reference only; risks are borne by the individual.

The above analysis by Liying is based on market data and trend analysis of the price level, for reference only, and does not constitute investment advice. For family members' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. In 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 unpredictable market and embark on their own successful journey.

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