Cryptocurrency Circle Li Ying: On October 14, a small bullish candle appeared after a long bearish candle. Can the support at 2400 hold for Ethereum? A celebration after the adjustment? Latest market analysis

Article published on 2024.10.14—08:45

Ethereum has been consolidating around 2470, forming a bullish flag pattern with an upward trend. Such continuous upward trends rarely see a pullback breaking support. The weekly candle has closed bullishly, standing above the trend indicators for two weeks. This week, a bullish market is expected, with a high probability of breaking 2500. Before that, Li Ying will look for key support to provide reference for everyone. Let's take a look at the current market situation.

Currently, the K-line pattern is fluctuating within the range of 2440 to 2480, forming a narrow range consolidation pattern. The daily K-line has shown several small bullish and bearish candles with long lower shadows, indicating that there is some support below. In the 4-hour technical indicators, both the MACD's DIF and DEA are above the zero axis, but the MACD histogram is gradually shortening, indicating that the upward momentum is weakening and may enter an adjustment phase.

The Relative Strength Index (RSI) is at 51.09, showing no obvious overbought or oversold signals. The trend indicator EMA shows that the current price is close to EMA7, slightly above EMA30 and EMA120, indicating a short-term trend leaning towards consolidation. The trading volume has decreased in recent trading days, with a strong market wait-and-see sentiment. During the period from the 12th to the 13th, trading volume increased relatively, accompanied by price fluctuations, indicating frequent capital inflows and outflows. From this data, it can be inferred that the main force is preparing for a push towards the previous highs, and after the consolidation, a new round of upward movement will begin.

Today's latest reference points: (Consolidation)

Long entry at 2400, add position at 2370, stop loss at 2340, target 2500

Short entry at 2550, add position at 2580, stop loss at 2600, target 2450

Reason: Focus on the pressure level above. After high-level consolidation, there is a high probability of continued upward movement. Safety first. For practical results, you can check with Li Ying. The content of the article is real-time and for reference only; risks are borne by the reader.

The above analysis by Li Ying is based on market data and trend analysis of the market situation, for reference only, and does not constitute investment advice. For family members' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. In this process, Li Ying 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, Li Ying 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 journey to success.

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