The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your principal is safe. You need to develop your own trading mindset, continuously optimize and improve it. The advice of the cryptocurrency academician may not make you rich overnight, but it can ensure that you always have support. Only those who survive in the cryptocurrency circle for the long term and persist until the end can achieve the results they desire. I hope you can understand.

I am a warrior who has always been protecting the "leeks" in the cryptocurrency circle. I wish my fans to achieve financial freedom in 2024. Let's work together!

Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis Reference for September 29, 2024

The market will not always move in one direction. Not retracing is unhealthy, but the strength of the retracement also needs to be considered. Key support levels must be monitored. There are two retracement points: the first is the horizontal neckline at 2630, the second is the rising flag support at 2580, and the third is the bearish support point near 2550. These are the positions where retracement is likely to occur after a bearish move. There is pressure zone above the support point at 2720 and a key pressure point at the previous high of 2820. These are the positions that need to be closely monitored for the following reasons.

The daily K-line continuously retraces sideways and the EMA60 trend pressure level at 2640 indicates effective support. The EMA15 fast line is at 2575 and is still challenging the EMA60. This means that the overall market is expected to consolidate at high levels until it approaches the EMA60. The upward trend will continue to oscillate, with MACD showing a volume increase, DIF and DEA crossing the 0 axis to end the polarization, and the upper Bollinger Band pressure level breaking at 2775, causing the K-line to fall back. KDJ continues to spread downward, indicating a clear retracement demand in the short term.

The four-hour K-line has broken the EMA15 support point at 2670, and the next support point to watch is the EMA30 midline at 2650, which is the consolidation range. MACD shows a top deviation with decreasing volume, indicating a contraction of the long and short positions. The pressure level is at 2710, and the support point is at 2610. Today's layout strategy can start with this as a short-term layout point, whether it is retracing support or challenging the previous high.

Safety comes first. Remember that the market is not always certain, so be sure to set a good stop-loss to ensure safety. Small losses and big gains should be the goal.

Intraday:

Short at 2710, stop loss at 20 points, take profit at 60 points

Long at 2600, stop loss at 20 points, take profit at 60 points

Short-term reference:

Long from 2600 to 2580, target range is 2700 to 2750, and breaking through the level, target is 2810, with a stop loss at 2600

Short from 2820 to 2850, target range is 2750 to 2700, and breaking through the level, target is 2650, with a stop loss at 2880

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 recommended for reference only. All risks are at your own discretion.

This article is exclusively provided by the Cryptocurrency Academician and represents the academician's exclusive viewpoint. The viewpoints and suggestions for 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. All risks are at your own discretion. Reprinting should indicate the source. It is important to control your position reasonably and avoid heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you make a mistake, you should reflect on your own problems and not let the potential profit slip away. There is no need to be smarter than the market in investing. When the trend comes, follow it; when there is no trend, observe and wait. It is not too late to act after the trend becomes 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 Cryptocurrency Academician wishes you a pleasant investment experience!

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