Cryptocurrency Circle Liying: Ethereum 2600 on the front line on October 18! The battle between bulls and bears has reached a fever pitch! Latest market analysis

Article published on 2024.10.18—07:00

The current price of Ethereum is 2607, which is in a high-level consolidation phase. Although the upper resistance at 2700 is like a solid wall, one thing cannot be ignored: the bullish trend is still present, and the larger trend remains bullish. Stick to the trend-following mindset and do not go against the trend. Remember, take a look at the following content.

Liying will first analyze the price trend. The current K-line pattern is fluctuating within the range of 2600 to 2650, forming a consolidation pattern. The previous high of 2648 and the low of 2574 constitute short-term resistance and support. Technical indicators MACD: Currently, both DIF and DEA are negative, and the MACD histogram shows a weakening of bearish strength, but it still needs to be observed whether it can turn positive.

The Relative Strength Index (RSI14) is close to the neutral zone at 54.67, indicating that there is currently no obvious bullish or bearish sentiment in the market. The trend indicator EMA7 is slightly above the current price, while EMA30 and EMA120 are in a bullish arrangement, indicating a long-term bullish trend. Trading volume has decreased, especially with smaller volumes in the morning, and the market sentiment is cautious. In the previous days, there were signs of increased volume and price rise, so Liying judges that after the main force pulls back to digest, it will continue to push towards the previous high along the trend.

Short-term strategy reference: (Bullish)

Long entry at 2580, add position at 2550, stop loss at 2520, target 2650

Short entry at 2650, add position at 2680, stop loss at 2700, target 2550

Reason: The larger trend remains bullish, facing strong resistance and support in the short term. It is suitable for making swings during the day. Rational thinking and reasonable layout are essential. The content of this article is timely and for reference only; risks are borne by the reader.

The above is Liying's brief analysis of the current market situation for investors' 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 and hopes to help others with dreams find their place in this ever-changing market and embark on their own journey to success.

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