Cryptocurrency Circle Liying: 11.14 Bear Counterattack! Watch Ethereum Struggle for Survival Under Short-Term Selling Pressure! Latest Market Analysis

Article published on 2024.11.14----02:15

Ethereum's current price is 3275. Ethereum has once again entered a range where it neither rises nor falls. Yesterday, I reminded everyone that after the trading volume increased, it gradually decreased, which is a typical profit-taking behavior after a sharp rise. Therefore, Liying provided the range market analysis. Now we can see that after testing the bottom at 3120, the support is effective, and after stretching to 3333, the resistance level is also effective, creating a range market where both bulls and bears have a space of 200 points. It is still possible to short at 3330, with a target below of 3150 to 3100. Congratulations to the followers who kept up!

Let's take a look at the current market. Liying will first analyze the price trend. The K-line pattern around 3300 shows significant fluctuations, forming a relatively wide oscillation range with prices falling from a high of 3449 to 3120, indicating strong selling pressure. The technical indicator MACD histogram is in the negative area, and both DIF and DEA are diverging downwards, suggesting that the market may continue to be under pressure in the short term, with effective resistance levels, making it a good opportunity to short.

The Relative Strength Index (RSI) is around 55, having retreated from the overbought zone but not yet entering the oversold zone, indicating a certain demand for adjustment. The trend indicator EMA7 has fallen below EMA30 and is approaching EMA120, indicating a bearish short-term trend, while medium to long-term support still exists. The trading volume has significantly decreased as prices fell, but panic selling has appeared in the market. Therefore, Liying judges that market sentiment is gradually stabilizing, but there is a strong wait-and-see sentiment. Short positions can continue to look down towards the previous lows, and after reaching those levels, profit-taking can be considered before looking for long positions.

Today's latest point of reference:

Long entry at 3150, add at 3100, stop at 3070, target at 3350.

Short entry at 3350, add at 3400, stop at 3450, target at 3150.

The above analysis is based on market data and trend analysis of the order book by Liying and does not constitute investment advice. For reference only. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has experienced 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 successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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