Coin Circle Li Ying: Short-term Ethereum Pullback on November 19th Becomes a Good Opportunity for Layout! Undervalued? The Strong Uptrend in the Big Bullish Candle Shows Strong Buying Power! Latest Market Analysis

Article Published on November 19, 2024 — 08:40 AM

Ethereum's current price is 3170, and the golden cross trend has formed. Ethereum has finally shown a decent rebound, although it has only recovered 100 points. This is a positive signal released by the market, which is favorable. After repeatedly testing the 3000 mark and liquidating short positions, it has pulled back 200 points. Although there hasn't been an effective entry point, the market has remained in a wait-and-see phase without effective bottoming out or obvious support, so it won't be easy to enter. The trend is still bullish, and the main strategy is to follow the trend and focus on going long.

Li Ying is still analyzing from the price trend perspective. Currently, the K-line pattern is fluctuating around 3200, showing signs of certain consolidation. The previous high of 3228 forms a short-term resistance level, while the previous low of 3051 provides support. The technical indicators MACD currently show both DIF and DEA as positive values, but the MACD histogram indicates a weakening trend in bullish strength, so subsequent changes need to be monitored. Li Ying suggests that everyone should wait for an effective pullback to support before entering long positions.

The Relative Strength Index (RSI) is close to the neutral zone at 52.6, not entering the overbought or oversold zones, indicating that the market currently has no extreme emotions. The trend indicators EMA7, EMA30, and EMA120 are in a bullish arrangement, suggesting an upward trend in the short term, but caution is needed regarding pullback risks. Rational thinking and layout are essential; do not chase highs or panic sell. Wait for a clear pullback before making decisions, as trading volume has recently increased, especially with yesterday's big bullish candle, showing strong buying power. However, the current trading volume has slightly decreased, which may indicate an increase in market wait-and-see sentiment. If a pullback occurs for accumulation, then wait for that before entering.

Short-term Strategy Reference:

• Long entry at 3100, stop loss at 3060, take profit at 3250.
• Short entry at 3230, stop loss at 3280, take profit at 3100.

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 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 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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