CoinCircle Liying: November 21st dilemma and breakthrough! Ethereum faces a battle to upgrade the psychological barrier at 3000! Latest market analysis.
Article published on November 21, 2024 ---- 01:25.
Ethereum's current price is 3072. Let's start by reviewing the market. It has entered an extremely long box range, continuously contracting, encountering strong resistance in its movement, and the price trends analysis indicates uncertainty. The current candlestick pattern clearly shows oscillation in the high range box, with several long upper and lower shadow candlesticks, indicating market divergence and uncertainty between bulls and bears. Most people believe Ethereum will see a rebound, but the reality is very agonizing.
After a rapid rise to 3228, there was a pullback and it is currently in a phase of adjustment. The MACD technical indicator shows both the DIF and DEA as negative values, with the histogram appearing green, indicating short-term bearish dominance, although the downward momentum is weakening. It is highly likely to continue with range-bound market movements. The Relative Strength Index (RSI) 14 is approaching the neutral zone at 44.8, not entering oversold or overbought territories, indicating a lack of clear market direction, further confirming Liying's speculation.
The trend indicator EMA7 is below EMA30 but above EMA120, indicating a short-term bearish trend while maintaining an upward trend in the medium to long term. The volume has been relatively stable recently without significant increase or decrease, reflecting strong market wait-and-see sentiment. Liying observed a significant increase in volume accompanied by intense price fluctuations between the 18th and 19th days, speculating it might be due to block orders reshuffling. The market is expected to continue the box range until it is broken.
Today's latest reference position.
Long entry at 3000, add at 2950, stop loss at 2920, target at 3150.
Short entry at 3150, add at 3200, stop loss at 3250, target at 3050.
The content of the article is for reference only, subject to change, risk is self-accepted.
