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Currency Circle Academician: Ethereum (ETH) Latest Market Analysis Reference for April 24, 2024

Ethereum did not move unilaterally as expected yesterday, so the results were not significant. Yesterday, I strategically positioned long positions near 3200, positioned long near 3180, and finally closed the position at 3246 for profit. After the U.S. market opened high and rose last night, Ethereum also reached the pressure level of 3246 but did not exert force for a long time. With a large amount of selling in the market, for the sake of prudence, I could only take a small profit and temporarily exit.

As of the time of writing, Ethereum's current price is around 3246, further confirming the wisdom of exiting the market yesterday. Otherwise, holding this position until now would be a kind of torment. In terms of overall trend, the trend is still mainly long, and the overall trend is biased towards a strong bullish trend. The daily K-line has also reached the EMA trend indicator position of 30 below 3275. Whether it can break through the pressure point and stand on a new trend turning point remains to be seen. KDJ is diverging upwards, indicating a strong bullish trend. MACD has increased in volume, and DIF and DEA have formed a golden cross. The Bollinger Bands broke the 3250 pressure level yesterday, and if it breaks again today, it can continue to enter long positions.

The four-hour K-line has reached the EMA120 near 3240 and has been continuously standing in the dense area of the trend indicator. It is expected that there will be a wave of stretching and filling. When it retraces to around 3200, it can start to strategically position with a small position. KDJ is diverging upwards with a golden cross. It has been a long time since this kind of wave has appeared, and the last time it appeared was during a one-sided stretching market. There are not many favorable conditions expected in this period, so there may not be a significant one-sided movement. MACD has increased in volume, and DIF and DEA are diverging upwards, causing increased volatility. The Bollinger Bands are contracting at this time, and if the K-line breaks through the upper rail of 3240, the momentum will strengthen. It is expected to retrace to around 3215 before stretching. The trend is bullish, and the strategy suggests re-entering during the retracement, not rushing to follow the trend, but choosing the right entry time.

Specific entry points are as follows:

Long entry points are in the range of 3210 to 3180, the first exit points are in the range of 3265 to 3310, and the second exit points are in the range of 3330 to 3400. The stop-loss point for long positions is 3130 (many market sentiments are encouraging Ethereum to return to 3530. In the short term, there are several major resistance levels above, and there will not be a straight stretch, especially in contract trading, which emphasizes flexibility and seeks more opportunities and greater space. Therefore, flexible trading is the way to go.)

For aggressive traders, the short entry points are in the range of 3280 to 3310 without breaking, with a stop loss of 20 points, and a target of 30 to 50 points for free profit-taking. Generally, when the bull market starts, there is usually a retracement space, but it is not large. Pay attention to setting good stop losses and be cautious. After all, the risk of shorting is greater than the return, just like playing with fire. It is recommended to focus on long positions during the retracement, set good stop losses, and even if you exit with a small loss, it is acceptable.

Specific operations should be based on real-time market data. For more information, please consult the author. The article is published with a delay and is for reference only. Trade at your own risk.

This article is exclusively provided by the Currency Circle Academician and represents the exclusive views of the academician. The views and suggestions on BTC, ETH, DOGE, DOT, FIL, EOS, etc., are not real-time due to the timing of the article's release and are for reference only. Trade at your own risk. Reprinting requires attribution. It is important for investors to understand that the market is always right. If you make a mistake, you should reflect on your own issues and not let the potential profit slip away. There is no need to be smarter than the market in investment. When the trend comes, follow it; when there is no trend, observe and be patient. It is not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The universe rewards hard work, the earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are all in the details. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Currency Circle Academician wishes you a pleasant investment journey!

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