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Cryptocurrency Academy: 2024.11.23 Ethereum (ETH) Latest Market Analysis Reference
The current price of Ethereum is 3280. It is now 3 AM Beijing time. Before the publication, the highest Ethereum price was 3430 and the lowest was 3255. Both long and short positions have not entered the hunting zone, and we are still observing and waiting. The daily candlestick chart has shown a double top pattern. Whether it can fully form or not still requires time to see how the market develops. The original thought yesterday was to enter directly if it broke 3430, but the market didn't provide an opportunity to short, and the retracement depth was insufficient. At this moment, not doing anything is also a choice.
The daily candlestick chart showed that after EMA15 yesterday, it began to stretch. This means it broke 3400 from 3100. The MACD top divergence continues, and the Bollinger Bands wide opening indicates an upper pressure level to watch at 3595, with a mid-band support at 3020. The trend remains bullish, but currently, the larger market has formed a U-shaped transition.
The four-hour K-line broke the ascending triangle, ultimately failing to break through the key horizontal pressure level of 3430, falling back to the EMA15 support point at 3255. The MACD top divergence continues. The short-term indicators express that there will be a retracement, but the strength of the retracement is uncertain. It could be thousands of points or tens of thousands of points. The KDJ has formed a downward dead cross, indicating an overall retracement trend. So wait for the support to be effective before continuing to buy.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always manage your stop-loss. Safety first, small losses and big gains is the goal.
Buy between 3200 to 3250, with a stop loss at 3150 and a 50-point stop loss. Targeting 3300 to 3350, if broken, aim for 3450.
Sell between 3450 to 3500, with a stop loss at 3550 and a 50-point stop loss. Targeting 3400 to 3350, if broken, aim for 3300.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication; the suggestions are for reference only and risks are to be borne by yourself.
This article is exclusively contributed by the Cryptocurrency Academy and represents the academy's unique viewpoint. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's push, the above viewpoints and suggestions are not real-time and are for reference only. Risks are to be borne by yourself, and when reprinting, please indicate the source. Manage your positions reasonably, and do not operate with heavy positions or full positions. The academy also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies and don't let profits that should have been yours fly away. There is no need to be smarter than the market in investments. When a trend comes, respond accordingly; when there is no trend, observe and remain calm. It is not too late to act after the trend becomes clear. Tomorrow's success stems from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, profession rewards excellence, and art rewards heart. Gains and losses often happen unexpectedly. Cultivate the habit of strictly managing stop-loss and take-profit for each trade. The Cryptocurrency Academy wishes you happy investing!
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