Coin Circle Li Ying: Bulls Never Give Up on 11.29! Ethereum Returns to 3555 with a Perfect Switch from High to Low, Latest Analysis

Article Published on 2024.11.29----01:40

Ethereum's current price is 3555. Bulls are ultimately bulls. Although the market has returned to the position it was at when the article was published yesterday, Ethereum has opened up a bullish situation, breaking 3680 and pushing towards 3700. This is an indisputable real-time observation. Li Ying's recommendation to clear positions at 3650 was executed, with a target at 3550 already realizing profits. Securing 100 points is sufficient; short positions should not be held for long. The important thing is to wait for a pullback to the bottom support to go long, as the larger trend remains bullish. Li Ying firmly believes in following the trend.

As always, Li Ying analyzes the price trend. The current candlestick pattern showed a significant rise from the 27th to the 28th, forming a long bullish candle. Subsequently, there are signs of a pullback from the 28th to the 29th. The current candlestick indicates characteristics of high-level fluctuations, and there may be adjustment pressure in the short term. It is advisable to wait for further bottom testing before looking for opportunities to position. The technical indicator MACD currently shows both DIF and DEA are positive, but the MACD histogram is starting to shorten, indicating a weakening of bullish momentum, which may lead to an adjustment phase. Li Ying is waiting for this adjustment and suggests everyone else do the same.

The Relative Strength Index (RSI14) is close to the overbought zone, currently at 58.81, showing a slight pullback, indicating that there is some demand for a market correction. The trend indicator EMA price is currently hovering near EMA7. If it breaks below this level, it may test the support of EMA30 below. After the testing concludes, entry can be considered. Additionally, after the trading volume increases, funds are actively entering the market. Although the current trading volume has decreased, it does not mean that it won't increase after a pullback, so a strategy focusing on low long positions with supplementary shorts is effective.

Today's Latest Point of Reference

Long Entry: 3400, Add: 3350, Stop: 3300, Target: 3550

Short Entry: 3650, Add: 3700, Stop: 3750, Target: 3400

The above analysis by Li Ying is based on market data and trend analysis 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 assist others with dreams in finding their place in this unpredictable market and embarking 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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