Coin Circle Liying: Ethereum experienced a slight pullback on September 20th, and now is the best time to ride the waves! Latest market analysis

Article published time: September 20, 2024—11:00 AM

With continuous breakthroughs of resistance levels in a one-sided manner, in such a strong bullish trend, it is natural to follow the trend, and it is not suitable to chase the rise and kill the fall at this position. Therefore, Liying suggests focusing on long positions on pullbacks and short positions on highs. First, let's look at the four-hour chart. The recent price fluctuated in the range of 2400 to 2500, forming a consolidating pattern. There was a clear upward trend in the early stage, rising from around 2300 to 2495, but then there was a pullback, and it is currently in a high-level consolidation.

The MACD fast and slow lines (DIF and DEA) are diverging upwards, and the MACD histogram is positive, indicating that it is still in a bullish market, but attention should be paid to possible divergence signals. The RSI14 is currently around 65, indicating a possible slight pullback in the short term. The EMA7, EMA30, and EMA120 are in a bullish arrangement, and the price is running above EMA7, showing a strong upward trend. EMA7 provides good support for the price.

In summary, Liying believes that the trend is still bullish, with a focus on buying on pullbacks.

Today's latest reference points: Risk control first, trading second

Long entry point: 2400, additional purchase point: 2350, stop loss: 2320, target: 2500

Short entry point: 2500, additional purchase point: 2550, stop loss: 2580, target: 2400

The content of the article is time-sensitive and is for reference only. Trade at your own risk.

The above analysis by Liying is based on market data and trend analysis of the market, and is for reference only, and does not constitute investment advice. For everyone's reference. Over the past decade, Liying has continuously explored and experienced hundreds of different types of digital assets. In this process, Liying has experienced the brilliance of bull markets and the dimness of bear markets, accumulating countless valuable experiences and profound lessons. As a female trader who has been striving in this challenging field, Liying feels a responsibility to share her insights and hopes to help others with dreams to find their own position in this unpredictable market and embark on their journey to success.

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