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Coin Circle Academician: 2024.5.11 Ethereum (ETH) latest market analysis reference
As of 2:00 a.m. before press time, the current price of Ethereum is around 2890, with the highest daily K-line at 3055 and the lowest at around 2875. It has directly fallen below various trend indicators from the EMA trend indicator 120 and stood at the EMA170 mark. From the overall trend point of view, the current daily K-line is basically near the bottom support point. The layout of multiple ideas below 2900 is still valid. The current KDJ trend is bearish, opening downward and spreading. The MACD bottom diverges and shrinks downward. DIF and DEA are also swapping back and forth below the 0 axis. If the K-line falls below the lower rail support of the Bollinger Band bottle mouth at 2900, it will still return to the upper part of the lower rail.
The four-hour K-line shows a big negative line level trend, directly testing the bottom support of 2900. Although the lowest point is around 2875, the support of 2900 is effective. KDJ spreads downward, MACD shrinks, and the death cross trend of DIF and DEA shows a strong bearish sentiment in the overall market. After the K-line falls below the lower track of 2920, the Bollinger Band also opens, causing the pressure level to move up. In the case of multiple bearish trends, we can draw the golden section line from the current highest point to the lowest point. From this, we can see that the ultra-short trend will have a wave of corrections. In terms of thinking, the short-term long near the 2900 mark, although the space is not large, it is also necessary to grab it. The specific reference is as follows
Reference for ultra-short contract ideas:
Long entry point: 2900 to 2910 range layout, the first target is 2950 to 2970 range, if it is not broken, you can leave the market, if it is broken, you can continue to hold and look at 3020 to 3030 range, defend 2850 to 2830 range to cover long positions, stop loss 2800
Short entry point: short in the range of 3030 to 3050, exit reference in the range of 2950 to 2900, stop loss at 3100
The earlier support has become the current pressure level. Pay attention to the changes near the trend line. If the trend line is not broken, the long position can be closed and the short position can be reversed. There is no need to stick to the new style.
The specific operation is based on the real-time data of the market. For more information and details, please contact the author. There is a delay in the release of the article. The suggestions are for reference only and the risks are borne by the user.
This article is exclusively contributed by the academician of the currency circle, and only represents the exclusive views of the academician. There are in-depth studies on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the time of article push, the above views and suggestions are not real-time, for reference only, at your own risk, please indicate the source for reprinting, and reasonably control the position when making orders, and do not operate with heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should summarize your own problems and don't let the profits that should have been obtained fly away. There is no need to be smarter than the market in investment. When the trend comes, respond to it and follow it; when there is no trend, observe it and stay calm. It is not too late to wait for the trend to finally become clear before taking action. Tomorrow's success comes from today's choice. God rewards diligence, earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards heart. Gains and losses are inadvertent. Develop the habit of strictly taking stop loss and stop profit for each order. The academician of the currency circle wishes you a happy investment!
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