Cryptocurrency Circle Liying: Ethereum Defends 3000 on November 18! Strong Bottom Support! Initial Rebound Signals! Latest Market Analysis

Article Published on 2024.11.18 ---- 08:35

Ethereum's current price is 3100. The battle to defend 3000 has been ongoing for several days, consistently holding strong. There is a possibility that this round of defense may break below 3000, so bulls looking to enter should consider finding suitable support below the 3000 mark. Those who have already entered at 3050 should pay attention to the resistance at 3150 above.

As usual, let's start with price trend analysis. Currently, the K-line pattern is fluctuating within the range of 3100 to 3200, showing a consolidation pattern with multiple upper and lower shadows. Liying assesses that there is a certain level of selling pressure and support in the market. The technical indicators MACD currently show both DIF and DEA as negative values, but the gap is narrowing. The MACD histogram indicates that bearish strength is weakening, and a golden cross signal may appear.

The Relative Strength Index (RSI) is close to 50, in a neutral zone, not entering overbought or oversold conditions, with no clear short-term trend. The trend indicators EMA7 is below EMA30, and the two are gradually converging, indicating signs of a short-term rebound; EMA120 is far below the current price, and the long-term trend still leans towards an upward direction. The strategy remains to follow the trend with a bullish bias. Since the trading volume is high, it indicates a lack of willingness to chase prices. When the price corrects, the trading volume slightly increases, showing a certain level of support.

Today's Latest Point of Reference

Long Entry at 3030, Add at 2980, Stop at 2950, Target at 3100

Short Entry at 3130, Add at 3180, Stop at 3210, Target at 3030

The above analysis is based on market data and trend analysis 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 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 successful journey.

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

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