Coin Circle Li Ying: 12.12 Short Selling Power Weakens! Does This Mean Ethereum's Bull Market Will Strike Again? Latest Market Analysis

Article Published on 2024.12.12----01:25

Ethereum's current price is 3800, and indeed the market has followed Li Ying's prediction that it did not break 3500. The bullish trend continues. Although the best entry point was missed, Li Ying chose to enter at 3650 yesterday afternoon at four o'clock, which also provided a good opportunity. The main force's attempt to break the 3850 resistance level failed, and a pullback to 3820 allowed for a profit-taking of 170 points, which is sufficient. In a bull market, pulling back to support allows for long positions, enabling continuous gains, maintaining a high win rate, and ensuring stable returns.

Currently, in the market, Li Ying is still analyzing from the price trend. The current K-line pattern has shown significant fluctuations between the 9th and 11th, especially the long lower shadow on the 10th, indicating strong buying support. The current K-line shows a clear upward oscillation trend but faces pressure near previous highs. This position can be referenced; if it breaks, it indicates that the bulls are continuing to strengthen. If it does not break, then wait for a pullback to continue going long. The technical indicators MACD currently show both DIF and DEA as negative values, but the MACD histogram is gradually shortening, indicating that short selling power is weakening and the bullish trend continues.

The Relative Strength Index (RSI) has rebounded from the oversold area and is currently close to the neutral zone at 50, indicating a recovery in market sentiment. The EMA trend indicator price is currently above EMA7 and approaching EMA30. If it can break through EMA30, it will further confirm the short-term rebound trend. The trading volume on the 10th significantly increased, and in the following days, the trading volume decreased, indicating that funds have entered the market to buy the dip after the sharp decline. The main force has already taken on board those who are ready to buy. Additionally, the trading volume has remained relatively stable in recent cycles, with no significant increase or decrease, which already supports Li Ying's hypothesis that the bullish trend continues.

Today's Latest Point of Reference

• Long Entry: 3700, Add: 3650, Stop: 3600, Target: 3850
• Short Entry: 3850, Add: 3900, Stop: 3950, Target: 3700

The above analysis is based on market data and trend analysis from the order book by Li Ying 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 borne by the reader.

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