Li Ying in the Crypto Circle: Overbought Alert on 10.15! Is Ethereum Facing a Correction Test? Latest Market Analysis

Article Published on 2024.10.15—09:00 AM

Ethereum is currently hovering around the 2630 mark. Yesterday's article mentioned an ascending flag pattern, indicating a bullish trend. However, this surge has left many feeling at a loss, as it directly broke through 2520 and stretched to 2650, defying all expectations. We will wait for a pullback or a break of the previous high before deciding on an entry point. Next, let's look at Li Ying's analysis.

Currently, the K-line pattern saw a significant rise on the 14th, forming a long bullish candle, followed by consolidation at high levels. The current K-line shows signs of a potential pullback, but overall it remains at a high level. The technical indicators MACD: DIF and DEA are both diverging upwards, and the MACD histogram shows a bullish trend, indicating that the market still has upward momentum in the short term.

The Relative Strength Index (RSI) is close to the overbought zone at 74.37, raising caution for potential pullback risks. The trend indicator EMA shows the current price above EMA7 and far from EMA30 and EMA120, indicating short-term strength. However, we need to watch for a potential pullback to the EMA7 support. Yesterday, trading volume significantly increased alongside the price surge, indicating active capital entry. Subsequently, trading volume decreased, suggesting the market has entered a wait-and-see state, but it has not dropped, indicating that this wave of market activity is not over yet, and there is still momentum to break the previous high.

Today's Latest Reference Points: (Consolidation)

Long Entry Point: 2550, Add Position Point: 2500, Stop Loss: 2470, Target: 2650

Short Entry Point: 2700, Add Position Point: 2750, Stop Loss: 2780, Target: 2550

Reason: Focus on the upper resistance level. 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 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. 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, hoping to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

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