Liying in the Crypto Circle: The Madness Behind Ethereum's Surge on November 22! Should You Chase the Rise or Wait for a Pullback? Latest Market Analysis

Article Published on 2024.11.22----01:40

Ethereum's current price is 3345. This wave of Ethereum's rebound has directly broken the ascending flag pattern. According to the flag pattern theory, we should pay attention to the previous high of 3450. If it breaks, it is highly likely to stretch above 3750 before stopping. The idea is to look for a pullback to the trend support point at 3200 to re-enter. Following the main force's consistent approach, once it stretches, it will be difficult to turn back, and it won't provide an opportunity to enter. Nevertheless, Liying will still choose to wait for a pullback to support before re-entering, rather than chasing the rise at such a high position now.

From the price trend analysis, Liying observes that the K-line pattern on the market remains a clear upward trend, especially after the unilateral rebound that occurred after 8 PM last night, confirming this idea. On the daily level, a long bullish candle was formed yesterday, breaking the previous high of 3375. Therefore, Liying supports the strong bullish momentum. The technical indicators in the 4-hour cycle show that the MACD histogram has turned positive and continues to expand, with the DIF line crossing above the DEA line, reinforcing Liying's belief in a bullish trend in the short term.

The current RSI value is 68.96, close to the overbought zone but not in the extreme area. Liying judges that the upward space has not yet ended. The trend indicator EMA price has broken through the EMA7, EMA30, and EMA120 moving averages, and EMA7 has crossed above EMA30 and EMA120, further confirming Liying's idea of a short-term upward trend. The trading volume has increased alongside the price rise, indicating positive capital inflow and enhanced bullish momentum. The daily trading volume has also expanded compared to previous days, supporting the upward price trend. The strategy is to primarily focus on bullish positions, with bearish positions as a supplement.

Today's Latest Reference Points

Long Entry: 3250, Add: 3200, Stop: 3170, Target: 3450

Short Entry: 3450, Add: 3500, Stop: 3530, Target: 3250

The above analysis is based on market data and 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 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 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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