Cryptocurrency Circle Liying: The Shadow of Ethereum's Reduction and Sale on November 23! Why is the 3400 Peak So Fragile? Latest Market Analysis

Article Published on 2024.11.23 ---- 01:15

The current price of Ethereum is 3319. Everyone should have seen the news that after Ethereum broke 3400, many large holders entered the market to chase the rise at high positions. The main force reversed and liquidated, plunging below 3270, liquidating over 100 million USD. The fear and greed in the market occupy many people's aspirations. No matter what, we must hold onto our chips. Everyone is waiting for a rebound, but what comes is disappointment. We need to view the market rationally, layout rationally, and stop chasing highs and cutting losses. Isn't it better to follow me and Liying?

From the price trend analysis, the current K-line shape is fluctuating in the range of 3300 to 3400, forming a consolidation pattern. A long upper shadow appears on the daily K-line, indicating heavy selling pressure above. It is clear that the main force took profits after reaching 3430; otherwise, it wouldn't have dropped over a hundred points in liquidation. The answer is that the main force has enough chips at this position. In the technical indicator MACD on the 4-hour cycle, both DIF and DEA averages are gradually flattening, and the MACD histogram is shortening, indicating that the bullish and bearish forces are tending to balance. Liying predicts that the market will once again enter a consolidation phase.

The Relative Strength Index (RSI) is currently around 60, having retreated from the overbought area, indicating weakened upward momentum, but it remains in a relatively strong area. The trend EMA shows the current price is below EMA7, close to EMA30, while EMA120 is far below the current price. The long-term trend is still upward, but there is short-term adjustment pressure. Looking at the decreasing trading volume indicates weak willingness to chase the rise, and the market sentiment is heavily cautious. Whether this will validate Liying's prediction of a consolidation market remains to be seen. The thought process is similar to Bitcoin, primarily focusing on low long positions and secondary high short positions.

Today's Latest Point of Reference

Long Entry at 3200, Add at 3150, Stop at 3120, Target 3400

Short Entry at 3400, Add at 3450, Stop at 3480, Target 3250

The above analysis is based on Liying's conclusions drawn from 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 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, hoping to help others with dreams find their place in this unpredictable 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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