On October 24, market sentiment, candlestick charts, and indicators such as Bollinger Bands indicate that after a significant drop last night, the price of Ethereum has rebounded to around 2560 today. The 15-minute, 1-hour, and 4-hour Bollinger Bands are all showing golden cross signals. If the price can stabilize above 2540, then there will be considerable upward potential. Short-term traders may consider establishing long positions near this level, with a short-term target looking towards today's high of around 2562, while mid-to-long term expectations could be in the range of 2587-2628. Although the market has reached a low point, it is expected that the subsequent trend will primarily consist of rebounds and pullbacks, with the upward trend likely to continue into next week.
With the current rebound strength, if the price fails to hold above the resistance level of 2540, it may fluctuate in the range of 2530-2508, which resonates with previous volatility ranges. The rebound following the daily pullback may cause the market to enter a converging state, at which point external factors may intervene. Traders should remain patient and continuously monitor market dynamics. As previously analyzed for the Nasdaq, the daily time convergence was completed after the 15th, with no new highs seen afterward, which aligns with the current market performance. Therefore, traders should keep an eye on market changes.
Nonetheless, I, Lao Liu, remain somewhat optimistic and hold a bullish stance on the mid-to-long term trend of Ethereum. In the midst of market fluctuations, traders should maintain flexible trading strategies and adjust positions in a timely manner based on changes in market sentiment and technical indicators. Please note that if you do not fully understand market sentiment and technical indicators, you can follow me for daily updates on analysis data and insights. #热门话题 #特斯拉Q3比特币持仓不变 #美国大选前行情观察 #ETHBTC汇率新低 #盘整行情分析 $ETH $BNB $BTC