Cryptocurrency Circle Liying: Bullish Trend Approaches on 12.17! Where Does the Belief in Ethereum's New High Come From? Latest Market Analysis

Article Published on 2024.12.17----01:05

Ethereum's current price is 3970. After waiting for a day, Liying was wondering if Bitcoin would pull back. In the end, she entered the market at 3900 and held on with a stop loss of 30 points. Regardless, this passive rise has become inevitable. The push for Ethereum to hit 4000 is expected to be a confirmed trend. Once it surpasses 4000, the sky's the limit. The next key point is the historical high. Maintain faith and stay bullish.

Looking at Liying's analysis, you'll understand why she has consistently maintained a bullish outlook. First, the price trend analysis shows that the candlestick pattern is oscillating within the 3900 to 4000 range, with certain upper and lower shadows indicating fierce competition between bulls and bears. The daily chart has shown a series of small bullish candles, suggesting short-term rebound momentum, but there is significant pressure above. The MACD four-hour technical indicator shows both the fast and slow lines trending upwards, and the histogram is positive, indicating enhanced upward momentum. However, caution is needed as resistance may be encountered near previous highs.

The Relative Strength Index (RSI) is currently around 60, not yet in the overbought zone, indicating there is still room for upward movement. However, one should be wary of the risk of a pullback after excessive rises. For those who haven't entered the market, wait for a pullback. The trend indicator EMA price is currently above EMA7 and is gradually approaching EMA30. If it breaks through EMA30 and stabilizes, it may continue to test higher levels. EMA120 provides long-term support, and with increased trading volume, market participation is rising. A pullback below 3950 can be an opportunity to start building long positions, while short positions are not considered for now; decisions will be made after clear resistance levels appear.

Today's Latest Reference Points

Long Entry at 3900, Add at 3850, Stop at 3800, Target 4000

Short Entry at 4050, Add at 4100, Stop at 4150, Target 3900

The above analysis is based on market data and trend analysis by Liying and does not constitute investment advice. It is 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, hoping 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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