Coin Circle Li Ying: November 17th Ethereum Defends 3000 Bull Victory Injecting Confidence into the Market! Latest Market Analysis

Article Published on November 16, 2024 - 02:00 AM

Ethereum's current price is 3167, with the market halting its decline at the 3000 mark. This round of the 3000 defense battle can be considered a phased victory for the bulls, as it stretched past 3200. After a sharp rise last night, the market experienced a sudden drop. Li Ying chose to remain on the sidelines and did not enter the market. In situations outside her trading understanding, Li Ying's consistent approach is to wait—for opportunities and signals—before taking profits and retreating.

Today's price trend shows that the K-line pattern is oscillating around 3172, forming a slight upward trend. The previous high of 3223 and the low of 3016 constitute important short-term resistance and support areas. The technical indicators MACD currently show both DIF and DEA as negative values, but the MACD histogram has turned positive, indicating that bullish strength is increasing. Li Ying supports a bullish trend.

The Relative Strength Index (RSI14) is close to a neutral level of 53. Li Ying assesses that the market currently shows no significant overbought or oversold conditions. The trend indicator EMA7 has crossed above EMA30 and is well above EMA120, indicating a positive short-term trend. Additionally, the increase in trading volume during the price rise shows that bulls have been active. When the price retraced below 3100, the trading volume significantly increased, possibly due to bottom-fishing funds entering the market, suggesting that the main force's pullback for accumulation is effective, with the potential for further upward movement. The strategy suggests continuing to primarily follow the bullish trend, with short positions as a secondary consideration.

Today's Latest Reference Points

Long Entry: 2950, Add: 2900, Stop: 2870, Target: 3100

Short Entry: 3100, Add: 3150, Stop: 3180, Target: 3000

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 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 to be borne by the reader.

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