Cryptocurrency Circle Liying: On October 11, Ethereum's carnival is overshadowed by clouds, the decisive battle at the peak of 2400! Latest market analysis

Article published on 2024.10.11—14:00

Ethereum's market has been fluctuating several times in the middle of the night, a time when everyone is asleep. The main players are indeed lacking in integrity, as they have broken previous lows twice in a row, leading to a large gap in the market. A wave of correction is expected to occur. In yesterday's article, Liying suggested a target of 2350, which has been reached. The overall market has returned to 2400, and now we need to see if it can stabilize above 2400 and continue to stretch. If it cannot rise, a pullback will occur. Let's take a look at the market.

Currently, the K-line pattern is fluctuating within the range of 2400 to 2500, forming a consolidation pattern. Multiple long upper and lower shadows indicate significant market divergence. The technical indicators MACD show that both DIF and DEA are currently negative, and the MACD histogram indicates that bearish strength is increasing but showing signs of weakening. RSI14 is close to the neutral zone, indicating that the market is in a relatively balanced state.

The trend indicator EMA shows that the short-term EMA7 is around 2390, while the medium and long-term EMA30 and EMA120 are above 2430 and 2478, respectively, indicating a bearish short-term trend, but overall still within a large support range. The trading volume shows an increase in market activity; currently, the trading volume has decreased, but the K-line has returned above 2400, indicating that the bullish momentum of the main players is still present. The trend should focus on the performance of the upper pressure levels to determine whether it is bullish or bearish.

Today's latest point of reference: (Wait and see)

Long entry at 2350, add position at 2320, stop loss at 2290, target 2450

Short entry at 2450, add position at 2480, stop loss at 2500, target 2350

Reason: Pay attention to key pressure levels; if broken, follow the trend to go long; if not broken, reverse to short with a good stop loss, safety first. The practical results can be checked with Liying. The content of the article is time-sensitive 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 market, 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 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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