11.8 Crypto Circle Liying: The Psychological Battle Over 1000! How Does Ethereum Seek Opportunities at the 3000 Mark? Latest Market Analysis

Article Published on 2024.11.8—08:35

Ethereum reached a high of 2925 yesterday, surging forward. Reflecting on the last time it fell below 3000 to this attempt to breach 3000, it has been over three months. Many crypto friends thought they were bottom-fishing at 3000; are you still around? Yesterday's pullback was not strong enough, and there were no suitable entry points, so we remained in a wait-and-see phase. In the early session, it unexpectedly stretched and broke 2950. Based on this trend, Liying predicts that momentum will build below the 3000 mark before attempting to break through the significant 3000 barrier.

Liying's advice is still to wait before making a decision. First, from the price trend, we can see that the current candlestick pattern is in an upward trend, especially as the price rebounded significantly from a low position the day before, forming multiple bullish candlestick combinations in the 4-hour cycle, indicating strong buying power. Technical indicators in the 4-hour cycle show that the MACD fast and slow lines continue to diverge upwards, and the histogram is positive, indicating that the current market is in a bullish trend.

The Relative Strength Index (RSI) is currently close to 80, entering the overbought zone, but no pullback signals have appeared yet, so caution is needed for potential short-term adjustments. The EMA trend indicator has broken through and stabilized above the EMA7, EMA30, and EMA120, showing strong upward momentum. Liying suggests paying attention to the expansion of the market after the EMA7 and EMA30 golden cross. The trading volume during the rapid price increase phase shows that funds are actively entering the market. Recently, trading volume has decreased, indicating that the main force is not sufficiently building momentum to break through 3000 and will need more time to gather strength before starting the assault on the 3000 mark. The entry point is based on 3000, with a strategy of primarily going long in line with the trend.

Short-term Strategy Reference:

Long entry at 2850, stop loss at 2800, take profit at 2960.

Short entry at 3000, stop loss at 3050, take profit at 2850.

Reason: The neckline serves as the first entry point for long positions, with EMA30 as the stop loss point. Exit if it breaks. The 3000 mark has strong resistance, serving as the first entry point for short positions, with the previous high as the stop loss. If it breaks, take the stop loss. 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 unpredictable market and embark on their own successful journey.

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