Liying in the Crypto Circle: On October 19, Ethereum bulls are fully charged; can they break the psychological barrier of 2700? Latest market analysis

Article published on 2024.10.19—02:30

The market is moving along Liying's expected trajectory, breaking previous highs. The current price of Ethereum has reached 2665, indicating that the bullish trend is still strong and not very weak. Especially at the time of writing this article, there are signs of a push towards 2700. Will it be able to surge past 2700 and break the spell, or will it continue to maintain a high-level consolidation? Let's look at Liying's upcoming statements.

First, from the price trend analysis, the current K-line pattern is fluctuating within the range of 2600 to 2650, forming a narrow oscillation consolidation pattern. On the 15th, a K-line with a long lower shadow appeared, showing strong buying support. The technical indicators MACD currently show both DIF and DEA as negative values, but there are signs of convergence. The MACD histogram is gradually shortening, which may indicate a weakening of bearish strength and an increase in bullish momentum.

The Relative Strength Index (RSI) is around 60, indicating that the market is in a relatively balanced state. The trend indicators EMA7 and EMA30 have a certain distance between them, with the price currently above both, showing a short-term bullish trend. Additionally, the increase in trading volume indicates heightened market activity. Overall, the combination of rising trading volume and price suggests that capital inflow is supporting price increases, making it best to follow the trend.

Short-term strategy reference: (Bullish)

Long entry at 2600, add position at 2570, stop loss at 2540, target 2700.

Short entry at 2700, add position at 2730, stop loss at 2760, target 2600.

Reason: The larger trend remains bullish. Rational thinking and reasonable layout are essential. The content of this article is time-sensitive 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, hoping 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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