Li Ying in the Crypto Circle: Is the Ethereum Drop on 11.27 Just Negative Feedback? What Does the Bull Market Correction Indicate? Latest Market Analysis

Article Published on 2024.11.27----01:30 AM

Ethereum's current price is 3328. After taking profits from the previous high, the bearish strategy was realized after breaking below 3300. This continuous market trend in this month's bull market has been almost spot on, especially with the main players' clear strategies. The current formation of a triple top indicates a pullback, and the depth of this pullback is accompanied by the bullish sentiment attracted by the previous market hype. Li Ying's judgment mainly aims to clarify this wave; after the cleanup, the bullish strategy will continue. There will definitely be a rebound, and sector rotation will also occur. However, the key is how to act and position oneself before this happens to avoid missing out on this wave.

Li Ying also analyzes from the price trend perspective. As you can see, the K-line pattern shows a short-term price pullback at a high level, forming a short-term downward trend. As long as the bulls do not break below 3000, market sentiment will not end. The short-term pullback is a normal phenomenon of profit-taking by the main players; the market cannot always move in one direction. After a strong rally, it needs to digest. The technical indicators MACD currently show both DIF and DEA as negative values, and the MACD histogram presents green bars, indicating that bearish strength is dominant, but there are signs of convergence, suggesting that this wave of market digestion is nearly complete.

The Relative Strength Index (RSI14) is close to 50, in a neutral zone, not significantly entering the overbought or oversold areas. Additionally, the trend indicator EMA7 has crossed below EMA30, and the price is running below EMA7, indicating a short-term weakness. However, EMA120 is still trending upwards, which aligns with Li Ying's view that the long-term trend remains bullish. Looking at the increased trading volume, the market's activity is normal, and fluctuations are expected; it would be strange if there were no fluctuations. Therefore, Li Ying suggests waiting for this wave of bottoming to end before looking for opportunities to continue positioning primarily for long trades, and not considering shorts until the key resistance level above is retested.

Today's Latest Point of Reference

Long Entry at 3150, Add at 3100, Stop at 3050, Target at 3300

Short Entry at 3450, Add at 3500, Stop at 3550, Target at 3350

The above analysis is based on market data and trend analysis from the order book and does not constitute investment advice. It is for reference only. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, Li Ying 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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