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Cryptocurrency Academy: 2024.11.24 Ethereum (ETH) latest market analysis reference.
Ethereum's current price is 3410. It is now 4 AM Beijing time. We are holding short positions on Ethereum at 3450 to 3500. For details, you can refer to yesterday's article for the thought process. The second coin will not continue to rise as everyone expects. There has already been one significant rise this year, and it is unlikely there will be such a large rally again this year. Therefore, it is essential to be rational and go with the trend. Don't chase the highs or panic sell. The first support point is 3400, which is unlikely to hold. We will continue to observe the strength of support at 3350 to 3300 before deciding whether to take profits on short positions.
Looking at the market, the daily K-line continues to show a double top pattern, with the highest reaching the 3500 mark and the lowest still at 3315 before publication, showing a large range, characteristic of a one-sided upward market. The EMA trend indicator is still expanding upwards, and we have entered the final sprint phase. After the alternation ends, pay attention to whether the EMA15 fast line stands above 3200. The MACD shows a significant level of top divergence with increased positions. The main force has begun to increase its holdings in the second coin. After the Bollinger Bands open, the upper band pressure comes to 3610, with the middle band support still at 3070. The KDJ has not yet shown upward force. Therefore, the idea is that short positions should not be held too long. After a pullback and breaking below 3400, consider trying long positions.
The four-hour K-line has surged and then retreated. Pay attention to the EMA15 trend support point at 3335. The MACD top divergence continues to trend upwards, and the DIF and DEA high-level diffusion trend remains unchanged. The Bollinger Bands are still stretching upwards, with the upper band breaking 3525. Focus on 3290. The entry and defense points for long positions have been found; the rest is left to time to wait. Only by enduring loneliness can one preserve prosperity. The large-scale bullish trend has already opened up, and after waiting for a pullback, the main strategy is to layout long positions, with short positions as a supplement. Especially when shorting, be sure to choose a position with a small stop-loss. If wrong, exit with a small loss; if right, hold.
Short-term reference: Safety first. Remember, the market is never 100% certain, so be sure to maintain stop-losses. Safety first; small losses with big gains is the goal.
Long positions from 3330 to 3350, with a defense at 3270, stop-loss at 50 points, and a target of 3400 to 3450. Breakout target at 3500 to 3550.
Short positions from 3550 to 3600, with a defense at 3650, stop-loss at 50 points, and a target of 3500 to 3450. Breakout target at 3400.
Specific operations are based on real-time data from the market. For more information, please consult the author. The article has a delay in publication; suggestions are for reference only, and risks are borne by the reader.
This article is exclusively contributed by the Cryptocurrency Academy, representing only the Academy's unique perspective. The views and suggestions regarding BTC, ETH, DOGE, DOT, FIL, EOS, etc. are based on in-depth research. Due to the article's publishing time, the aforementioned opinions and suggestions are not real-time and are for reference only. Risks are to be borne by the reader. Please indicate the source when reprinting. Manage your positions wisely, and do not operate with large or full positions. The Academy also hopes that investors understand that the market is always right. If you are wrong, summarize where the problem lies within yourself and don’t let the profits that should be yours slip away. There is no need to be smarter than the market; when a trend comes, follow it; when there is no trend, observe and remain calm. It’s not too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. The way of heaven rewards diligence, the way of the earth rewards goodness, the way of humanity rewards sincerity, the way of business rewards trust, the way of industry rewards excellence, the way of art rewards heart. Gains and losses occur unintentionally. Develop the habit of strictly maintaining stop-loss and take-profit for every trade. The Cryptocurrency Academy wishes you happy investing!
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