Cryptocurrency Market Analysis by Liying: The Golden Period of Ethereum at 10.7: A Comeback from Selling Pressure! Latest Market Analysis

Article Published on 2024.10.7 — 11:00 AM

Ethereum is currently priced at 2500, breaking out of the box and the slow upward confinement, stretching in a single direction. From the overall trend, it has reached a critical resistance level. Now that the resistance level has turned into support, it is likely to trigger a chain reaction for further stretching. Therefore, at this moment, Liying reminds everyone to pay close attention to the key support points. The weekend's sideways market has ended, and the main event is about to begin.

Currently, the K-line pattern in the market is oscillating within the range of 2400 to 2500, forming a small box consolidation pattern. From the 4th to the 7th, the K-line shows some upper shadows, indicating selling pressure above. Once the selling pressure ends, we see the current single-direction market emerge. Looking at the technical indicator MACD: both DIF and DEA are currently negative, but the MACD histogram is gradually shortening, indicating that bearish momentum is weakening, and a golden cross signal may appear, suggesting a long position.

The RSI indicator has rebounded from the oversold area and is currently at a neutral to strong position of 64.97, indicating an improvement in market sentiment. Before entering the overbought zone, the market is likely to stretch further. The trend indicator EMA7 has crossed above EMA30 and is approaching EMA120, indicating a short-term trend turning bullish. However, attention should be paid to whether the pressure level near EMA120 can hold. Additionally, the trading volume in the market has decreased compared to the previous period, especially during the upward process. After a volume increase on the 6th, the trading volume significantly shrank on the 7th, raising the risk of a pullback after a high, and the main players should be cautious.

Today's Latest Point of Reference: (Bullish)

• Long Entry Point: 2400, Add Position Point: 2370, Stop Loss: 2340, Target: 2500
• Short Entry Point: 2550, Add Position Point: 2600, Stop Loss: 2630, Target: 2450

Reason: Follow the trend and act accordingly. Practical results can be checked with Liying. The content of the article is real-time and for reference only; risks are borne by the reader.

The above analysis by Liying is based on market data and trend analysis and is for reference only; it 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. Throughout this process, Liying 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, 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.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。