Crypto Circle Liying: Bullish Signal on 11.7 Ready to Erupt! Ethereum Market Set to Welcome a New Wave of Upsurge! Latest Market Analysis

Article Published on 2024.11.7—09:35

Ethereum reached a high of 2830 yesterday, and last night it continued to take profits until 3:45 AM at 3660. Although a good space was secured, it was nearly 200 points less compared to the 2830 before the article was published. However, trading requires rationality; during the period of high control by the main force, it is wise to clear positions and layout rationally, taking profits when available. After all, Liying's target space for the 2450 layout is already sufficient, and the remaining task is to wait for the next stretch to finish before re-entering.

First, from the price trend perspective, the K-line pattern on the market quickly rose from a low of 2420 to 2830, forming a clear bullish trend. A long bullish candle appeared on the daily K-line, indicating strong buying power. Liying judges that the bullish trend remains unchanged and will break the previous high. The technical indicators in the 4-hour cycle show that the MACD histogram has turned positive from negative and continues to expand, indicating that upward momentum is strengthening. Both DIF and DEA are diverging upwards, supporting the current upward trend.

The Relative Strength Index (RSI) is at 83, having entered the overbought zone, but no signs of a pullback are observed, which may indicate a strong market performance. Currently, the trend indicators show that the short-term EMA7 has crossed above the long-term EMA30 and EMA120, presenting a typical bullish arrangement. Almost all indicators are bullish, and the trading volume has significantly increased alongside the price, indicating active capital entry, with bulls dominating the market. The trend remains primarily bullish.

Short-term Strategy Reference:

• Long entry at 2700, stop loss at 2650, target at 2900
• Short entry at 2900, stop loss at 2950, target at 2750

Reason: The market target is around 2900 as a short entry point, while the long entry point is near previous levels, with moving average levels as defense. The content of the 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 assist others with dreams in finding their place in this unpredictable market and embarking on their own journey to success.

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