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Crypto Circle Scholar: 2024.10.23 Ethereum (ETH) latest market analysis reference
Current price of Ethereum is 2623, it is now 1:30 AM Beijing time. Yesterday before the article was published, the price of Ethereum was 2640. After going around, the market has returned to this position. Looking back, after experiencing back-and-forth fluctuations, Ethereum is consolidating, which belongs to normal accumulation after a washout. The market is expected to continue to accumulate sideways.
Looking at the current market, the daily K-line highest is 2670, lowest is 2606, the daily K-line has fallen for two consecutive days, breaking the EMA90 support which has now become resistance at 2660. Downward is the exchange point of EMA15 and 60 at 2580 support. MACD is reducing volume, DIF and DEA are contracting at high levels, short-term downtrend is gradually becoming clear. The K-line has fallen back from the upper Bollinger Band resistance point of 2755, with the middle track support point to watch at 2520, and KDJ is forming a dead cross downwards, further clarifying the short trend.
The four-hour K-line is blocked at the EMA60 support point of 2615, the trend is starting to weaken, MACD is reducing volume and accumulating, preventing DIF from breaking below the 0 axis. However, one thing to remember is that if there are continuous pullbacks on support, it is hard for the support to hold. Pay attention to the lower Bollinger Band support at the 2600 integer level, KDJ is compressed after being blocked in the short term, indicating a trend of rebound. You can wait for the market to correct before starting to lay out the short position, observe the market in the short term.
Short-term reference: Safety first, remember that the market is never 100%, so always set a stop loss. Safety first, small losses and big gains are the goal.
Short position from 2670 to 2690 above, stop loss of 30 points, target looking at 2640 to 2600, if broken looking at 2585
Long position from 2580 to 2600, stop loss of 30 points, target looking at 2650 to 2680, if broken looking at 2710.
Short position if 2580 to 2600 is lost, stop loss of 30 points, target looking at 2530 to 2500, if broken looking at 2470
Specific operations should be based on real-time market data. For more information and details, you can consult the author. There may be a delay in the article's publication; the suggestions are for reference only, risk is self borne.
This article is exclusively contributed by the Crypto Circle Scholar and represents the scholar's exclusive opinion. In-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article, the above views and suggestions are not real-time, for reference only, risk is self borne. Please indicate the source when reprinting, control your positions reasonably, and avoid heavy or full positions. The scholar also hopes that investors understand that the market is always right. If you are wrong, summarize where the problem lies. Do not let the profits that should be yours fly away. There is no need to be smarter than the market. When the trend comes, respond; when there is no trend, observe and remain calm. It is not too late to take action after the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often happen unexpectedly. Develop the habit of strictly setting stop losses and take profits for each trade. The Crypto Circle Scholar wishes you happy investing!
Stay calm, not trapped by emotions, strategize, and you can win from a thousand miles away. There are three thousand weak waters, only take a ladle, take what you need, do not be greedy, do not be belligerent, be adaptable, and steady in your investments is the way of the wise.
