Li Ying in the Crypto Circle: Clear Selling Pressure on 10.29! How Does Ethereum Market Sentiment Affect Future Trends? Latest Market Analysis

Article Published on 2024.10.29—02:00

Ethereum is currently priced at 2510. Li Ying's suggestion yesterday was to adopt a low long strategy. However, Ethereum's pullback was not as good as expected; it only retraced to 2470 before starting to consolidate sideways. Eventually, it surged to 2545 but still did not break the range. If low-level consolidation shows a U-shaped recovery trend, it would be ideal. If not, it may form a descending flag pattern. Another downward liquidation could lead most people to give up on holding ETH. As veterans in the crypto circle, we still have our own beliefs; we just need to patiently wait for opportunities to go long at low support levels.

Let’s look at the market. Li Ying first analyzes the recent price trend, noting the clear fluctuations around 2500. You can see that the market has formed a small consolidation range. After a significant drop on the 25th, the market entered a rebound correction phase, but the pressure above is evident, and there has been no effective breakthrough. The technical indicator MACD currently shows both DIF and DEA as negative values. The MACD histogram indicates that bearish momentum is weakening, and a golden cross trend is gradually forming, which is a relatively good signal for reference. If a golden cross forms, a new round of recovery may indeed begin.

The Relative Strength Index (RSI) is currently close to the neutral zone at 47, with no clear overbought or oversold signals. It is likely to continue consolidating, extending the lackluster market. The trend indicator EMA shows the price below EMA7, and EMA30 and EMA120 are in a bearish arrangement, indicating clear selling pressure. Unfortunately, Li Ying's choice to short at 2550 was just 5 points off, missing this opportunity. The trading volume in the market is too stable, so the market's wait-and-see sentiment still exists. Li Ying continues to maintain the low long strategy.

Today's Latest Reference Points: Focus on Low Long with Short as a Supplement

Long Entry Point: 2450, Additional Buy Point: 2400, Stop Loss: 2370, Target: 2550

Short Entry Point: 2550, Additional Sell Point: 2600, Stop Loss: 2630, Target: 2450

Reason: Li Ying chooses the safest method to enter near the previous low. If the previous low is broken, she exits. For shorting at the second moving average, this is to prevent missing out. If the previous high is broken, confirming the trend, she exits. Safety first. Practical results can be checked 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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