Cryptocurrency Market Update: The 11.11 Frenzy Sweeps the Crypto World! Absolute Bullish Signals from the Ethereum Market! Latest Market Analysis

Article Published on 2024.11.11—08:20 AM

Ethereum reached a high of 3180 yesterday, effectively catching up and achieving new heights. Continuous pullbacks have yielded substantial gains. As long as you don't play with fire and adhere to the trend, if you can't seize the opportunities in a bull market, it's not the bull market's fault. This time, the market craze sweeps across the entire crypto space, and as the second-largest player, Ethereum cannot lag behind. With its scale here, we boldly predict that there is still a wave of catch-up that hasn't appeared yet, and we await with anticipation.

Let's look at the current price trend. We will start the analysis from the order book. The current candlestick pattern shows a clear upward trend, so don't deceive yourself. You must go with the trend. The price has gradually risen from 2894 to the current 3190. In the 4-hour period, multiple bullish candles indicate strong market buying pressure, especially with significant volatility and rising closing prices observed yesterday and today. The technical indicator MACD in the 4-hour period shows both DIF and DEA are positive, with DIF slightly above DEA, and the MACD histogram displaying a bullish arrangement. Therefore, we continue to support the bullish trend.

The Relative Strength Index (RSI14) in the 4-hour period is in the overbought zone at 79, but no signs of a pullback are seen, indicating that the current trend remains strong. Additionally, all trend indicators EMA are showing a bullish arrangement, with short-term moving averages crossing above long-term moving averages, further confirming the upward trend and validating our judgment. The current price is above all EMAs, indicating strong support. Coupled with increased trading volume after a significant rise in price, the inflow of funds actively demonstrates optimistic market sentiment and light selling pressure. We remain optimistic about the future. Remember our words: in a bull market, there is no ceiling.

Short-term trading ideas:

Long entry at 3100, stop loss at 3050, and target at 3250.

Short entry at 3250, stop loss at 3300, and target at 3100.

The above is a brief analysis of the current market situation for investors' reference. $ETH #ETH行情分析 #以太坊行情分析