Cryptocurrency Circle Li Ying: On November 13, Ethereum enters the era of greed after three nights and four days! A cooling period after a rapid rise! Latest market analysis

Article published on 2024.11.13—08:30

The current price of Ethereum is 3250, compared to yesterday's peak of 3450. The cryptocurrency market is indeed a place where greed prevails. After breaking 3400, many bullish voices targeting 4000 emerged in the market. As retail investors, do not blindly follow the trend; it is essential to layout rationally. With such a good trend, make sure not to choose the wrong direction while standing at the forefront. Yesterday, Li Ying's strategy was above 3250. Although profits were taken at 3300, it does not hinder resting, and one can act with peace of mind without worrying about who is still holding positions.

Li Ying starts with price trend analysis. Currently, the K-line pattern at the market shows multiple upper shadows at 3300, which is why Li Ying chose to take profits at 3300, as there is strong selling pressure at this level. Subsequently, a long lower shadow appeared, indicating that there is some support around 3200, which is also the reason Li Ying chose this as a low entry point. The technical indicator MACD shows that both DIF and DEA are positive, but the MACD histogram has turned from red to green, indicating a weakening of upward momentum. Therefore, Li Ying judges that today's market has entered a consolidation phase.

The Relative Strength Index (RSI) has retreated from the overbought zone and is currently around 60, indicating that market sentiment has cooled somewhat but remains in a relatively strong area. The trend indicators, short-term EMA7 and medium-term EMA30, show a bullish trend, and the long-term trend is positive. However, Li Ying advises everyone to pay attention to whether the short-term EMA will be broken. The trading volume increased yesterday and then gradually decreased, which is a typical behavior of profit-taking after a sharp rise. Especially now that the trading volume is decreasing and market sentiment is warming up, it will lead to more wait-and-see sentiment. Li Ying suggests that everyone wait for new directional guidance.

Short-term strategy reference:

Long entry at 3200, stop loss at 3150, stop loss point at 3120, target 3300

Short entry at 3350, stop loss at 3400, stop loss point at 3430, target 3250

The above is a brief analysis by Li Ying regarding the current market situation for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, Li Ying feels a responsibility to share her insights and hopes to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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