Cryptocurrency Circle Liying: Short positions dominate on December 23! The investment advantages of Ethereum should be approached with caution! Latest market analysis

Article published on December 23, 2024 ---- 06:10

Ethereum's current price is 3270. Liying first analyzes the price trend. As you can see, the current candlestick pattern is in a clear downtrend, especially after the significant drop on the 20th and 21st, market sentiment is bearish. In the 4-hour cycle, the price has been repeatedly blocked around 3300, forming a short-term resistance level, indicating that the bearish momentum is effective.

The technical indicator MACD currently shows both DIF and DEA as negative values, but the gap is narrowing. The MACD histogram has turned from green to red, indicating that the downward momentum is weakening, and a rebound may occur. The Relative Strength Index (RSI) is at 36.1, close to the oversold range, suggesting the possibility of a technical rebound.

The trend indicator EMA7 is below EMA30 and far below EMA120, showing that the short-term, medium-term, and long-term trends are all bearish. Overall, the trend remains bearish. The trading volume has decreased in the recent trading sessions, indicating an increase in market wait-and-see sentiment. The previous sharp decline was accompanied by high trading volume, indicating heavy selling pressure, and temporarily, the shorts are in control. Therefore, Liying suggests focusing on short positions at resistance levels and considering long positions at support levels.

Today's latest point of reference:

Long entry at 3250, add at 3200, stop at 3150, target at 3400.

Short entry at 3400, add at 3450, stop at 3500, target at 3250.

The above analysis is based on market data and candlestick 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 and hopes 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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