As a senior figure in the cryptocurrency industry, I have been deeply involved in this charming and challenging field for many years. Having experienced the ups and downs of the cryptocurrency market and witnessed the rise and fall of numerous currencies, I have accumulated rich practical experience and unique market insights. Investment is a long-term practice, and this is especially true in the cryptocurrency industry. Only by continuously learning and improving one's cognitive and judgment abilities can one steadily move forward in this challenging field.

Yang, a figure in the cryptocurrency industry: Ethereum market analysis on August 19, 2024

The highest point of the daily Ethereum chart is near 2670, the lowest is 2600, and there are two consecutive positive days. The price was pressured by the EMA12 line at 2665 and started to decline. The MACD positive column began to increase in volume, and the DIF and DEA bottomed out and crossed upwards. The Bollinger Bands are narrowing downwards, and the coin price is about to break through the midline of 2700. It may stabilize around the midline in the future, and there is a possibility of a short-term downward trend.

After the coin price failed to reach the high point of 2688 on the four-hour chart, a large negative candlestick brought it back to 2610, retracing to the support level of the midline. This is a typical operation to kill the long positions. The KDJ has a death cross and is spreading downwards, and the MACD is starting to increase. The market changes in the blink of an eye, so it's important to set stop-loss orders when trading.

Short-term strategy:

Long in the range of 2500 to 2550, with a target of 2670 and a stop loss of 50 points.

Short in the range of 2850 to 2900, with a target of 2700 and a stop loss of 50 points.

Disclaimer: The analysis and insights provided in this article are solely the author's personal opinions and do not constitute specific trading advice. Any profits or losses resulting from acting on this information are the sole responsibility of the individual. Investment carries risks, so caution is advised when entering the market.

This article is exclusively planned and published by Yang in the cryptocurrency industry. If you want to learn more about real-time investment strategies, spot contract trading techniques, and operational skills, you can consult the author. The author has been focusing on spot contracts for BTC, ETH, and altcoins for many years and hopes to help you achieve brilliant results!

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