Li Ying in the Crypto Circle: Opportunities Hidden in 10.6 Ethereum! How to Seize Opportunities During Sideways Consolidation! Latest Market Analysis

Article Published on 2024.10.6—02:20

Ethereum is currently priced around 2400, which meets expectations. Based on yesterday's analysis, there isn't much operational space during the weekend's sideways movement, so we can only wait. Today's consolidation continues, and the resistance above is still quite evident in the short term. Without trading volume, the market sentiment is overly strong, and we can only engage in swing trading in the short term.

Li Ying first refers to the trend of the market. The current K-line pattern shows price fluctuations around 2400, forming a slight consolidation pattern, which everyone should be able to see. The daily K-line shows long upper and lower shadows, indicating fierce competition between bulls and bears. In the MACD technical indicator on the 4-hour cycle, both DIF and DEA are negative, but the MACD histogram is starting to shorten, which may indicate a weakening of the downward momentum.

Currently, the RSI indicator is around 40, indicating a relatively stable market. The trend indicator EMA shows the current price is below EMA7 and close to EMA30, but EMA120 is far above the current price, indicating overall downward pressure. Therefore, the market is still in a consolidation phase in the short term, and we should be cautious of bearish momentum. Trading volume has decreased after breaking 2400, and it has not been able to rise, which requires continuous monitoring of real-time market data to make judgments. In the short term, the market remains in a sideways trend, allowing for swing trading.

Today's Latest Point of Reference: (Sideways)

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: In a consolidating market, both bulls and bears have space to capture, and one must decisively exit when facing resistance. The practical results can be checked with Li Ying. The content of the 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. It is provided for family members' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, Li Ying feels a responsibility to share her insights and hopes to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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