Cryptocurrency Circle Liying: The Dilemma and Breakthrough on November 21! The Battle at the Psychological Barrier of 3000 for Ethereum Intensifies! Latest Market Analysis

Article published on 2024.11.21----01:25

The current price of Ethereum is 3072. Let's first review the market. It has entered an extended range, which has been continuously contracting. There is strong resistance in both upward and downward movements, causing a back-and-forth struggle in sentiment. From the price trend analysis, the current candlestick pattern shows a clear range-bound fluctuation at a high level, with multiple candlesticks exhibiting long upper and lower shadows, indicating market divergence. The bulls and bears have yet to reach a conclusion, and most people believe that Ethereum will experience a corrective rally, but the reality is indeed very torturous.

Previously, there was a rapid rise to 3228 followed by a pullback, and it is currently in an adjustment phase. The technical indicators MACD show that both DIF and DEA are negative, and the MACD histogram presents green bars, indicating that short-term bearish forces are dominant. However, the downward momentum has weakened, and it is likely to continue in a range-bound market. The relative strength index RSI14 is close to the neutral zone at 44.8, not entering the overbought or oversold range, further confirming Liying's speculation.

The trend indicator EMA7 is below EMA30 but above EMA120, indicating a short-term bearish trend while maintaining an upward trend in the medium to long term. The trading volume has recently been relatively stable without significant expansion or contraction, showing a strong wait-and-see sentiment in the market. Liying observed that between the 18th and 19th, trading volume significantly increased alongside sharp price fluctuations, which Liying judges may be due to the repositioning of main funds. As long as the range is not broken, the range-bound strategy will continue.

Today's latest reference points:

Long entry at 3000, add at 2950, stop at 2920, target at 3150.

Short entry at 3150, add at 3200, stop at 3250, target at 3050.

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 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 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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