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Crypto Circle Scholar: 2024.10.22 Ethereum (ETH) latest market analysis reference.

Ethereum's current price is 2640. It is now Beijing time 12:35. Let's review: Yesterday's market indicated that Ethereum had reached a critical resistance level, and a short position at the neckline of 2750 could be considered. The target is modest, just taking profits at 2700. The daily K-line shows a double top pattern. After briefly breaking the EMA120, it directly retraced to EMA90, indicating that there is indeed strong resistance at 2800 above. In the short term, the main force will need a deeper pullback to attempt to challenge 2800 again.

We see that the daily K-line directly retraced to the EMA90 support point of 2660 yesterday. After the market opened at 8 AM today, it further broke below EMA90 and began to hit the EMA15 and 60 exchange point at 2585. The MACD volume decreased, and the DIF and DEA just crossed the 0-axis and started to contract again. The upper Bollinger Band also briefly broke before starting to retrace back to the middle band. The KDJ formed a dead cross. Overall, the trend shows that long and short positions are equally divided, indicating signs of high-level consolidation.

Looking at the four-hour K-line, a descending channel formed by continuous downward movements. After breaking the EMA15 support at 2670 yesterday, it attempted to push up again but with little success, dropping all the way to EMA60 support at 2612. The MACD shows a top divergence and increasing volume decrease; the DIF and DEA are expanding downward at a high level. The K-line broke below the Bollinger Band middle line at 2670, entering a downward channel. The KDJ prevented further decline of the K-line and began to contract. In the short term, as long as the support at 2610 holds and does not break, one can start to test long positions. If the neckline at 2670 does not break, one can try short positions.

Short-term reference: Safety first. Remember that the market has no guarantees, so always maintain a good stop loss. Safety first; small losses and big profits are the goal.

Short from 2670 to 2690, stop loss 30 points, target at 2640 to 2600, if broken, watch for 2585.

Long from 2580 to 2600, stop loss 30 points, target at 2650 to 2680, if broken, watch for 2710.

Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publishing, and suggestions are for reference only. Risks are borne by the reader.

This article is exclusively contributed by the Crypto Circle Scholar, representing only the scholar's views. In-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of article publication, the above views and suggestions are not real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Control your position reasonably; do not operate with heavy or full positions. The scholar also hopes that all investors understand that the market is always right; if you are wrong, you should reflect on your own issues. Do not let profits that should be yours fly away. There is no need to be smarter than the market in investing. When a trend comes, respond accordingly; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. Heaven rewards diligence, earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards precision, and art rewards passion. Gains and losses occur unexpectedly. Develop the habit of strictly maintaining stop-loss and take-profit for every trade. The Crypto Circle Scholar wishes you happy investing!

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