Cryptocurrency Circle Liying: On November 24, Ethereum remains bullish, caught between surges and drops! Capital inflow accelerates! Can the bulls withstand the selling pressure? Latest market analysis

Article published on 2024.11.24 ---- 01:40

The current price of Ethereum is 3430. Ethereum has been liquidated again; yesterday's long position at 2400 was liquidated, and today, the on-chain data shows that another several hundred million dollars worth of short positions at 2400 have been liquidated. This market is like this, filled with fear and greed. Before the article was published, the main force surged to impact 3500, then quickly dropped back below 3400, harvesting back and forth. To avoid being harvested in such a market, one must understand that during rapid surges and drops, it belongs to a stage of high control by the main force. For small investors, the best choice is to wait and see.

First, let's analyze the price trend. The current K-line pattern shows a clear upward trend. Especially between the 21st and 23rd, the price rose from 3070 to 3498.94. Between the 22nd and 24th, a long upper shadow appeared, indicating some selling pressure at high levels. The main force took profits at 3500, and if it continues to stretch after a pullback, it indicates the end of selling pressure. The technical indicator MACD histogram has been expanding since the 21st, with both DIF and DEA diverging upwards, showing a strong bullish signal. Liying suggests focusing on buying on pullbacks to support.

The Relative Strength Index (RSI) is around 64.55, close to the overbought zone but not yet in the extreme area, indicating that the market still has room for further upward movement. The trend indicator EMA short-term EMA7 has crossed above the medium and long-term 30 and 120, forming a golden cross, supporting the current upward trend. Additionally, the trading volume has significantly increased along with the price, showing active capital inflow, especially with so many main forces entering the cryptocurrency market through on-chain issuance. The main force is not foolish; entering at this position for Bitcoin likely means waiting for certain whales to get on board. Therefore, Liying is optimistic about Ethereum in the long term, adhering to a strategy of primarily low buying and supplementary high selling.

Today's latest reference points

Buy point: 3350, add: 3300, stop: 3270, target: 3500

Sell point: 3500, add: 3550, stop: 3580, target: 3350

The above analysis is based on market data and trend analysis 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. In 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 journey to success.

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

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