The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to form a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from the crypto circle academicians may not make you rich overnight, they can help you persist. Only those who survive in the crypto space for the long term and stick it out until the end can achieve the results they desire. I hope you understand.

I am a warrior in the crypto circle, always protecting the retail investors. I wish my followers financial freedom in 2024. Let's work hard together!

Crypto Circle Academician: 2024.10.7 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 2443. It is now 2 AM Beijing time. As mentioned earlier, after breaking the key resistance level, it has retraced to the neckline without breaking it. Continue to hold. From 2300 to the current 2440, there has been more than 140 points of space, and you can exit at any time, but don’t rush. The upper space has not yet been fully explored. Do not always guess the top, and do not always aim to take profit at the highest point. Only take profits at retracement points. As long as you let the profits run, you can leave the rest to time.

Looking at the current market, the daily K-line continues to break the previous high, reaching a maximum of 2460, very close to the upper EMA15 trend resistance level of 2485. Whether it can break through 2500 is still unknown. The MACD is shrinking with increased positions, and the DIF and DEA are contracting at the 0 axis. The market is entering a polarized state, showing a high-level sideways trend, which is a typical oscillating upward trend. Pay attention to the Bollinger Bands' upper resistance level at 2525 and the lower support level at 2285. The KDJ is contracting with a golden cross trend. If the pressure level breaks through the key resistance level of 2500, you can continue to hold.

The four small K-lines have just broken the EMA30 resistance level of 2438. From EMA30, we will see if it can stabilize at EMA30 while pushing towards the next resistance point EMA60. After all, the MACD has been continuously increasing in volume, and the market turnover rate is very high, with trading volume constantly increasing. Additionally, the DIF and DEA are starting to expand upwards from below the 0 axis. This upward channel is slow but steady, requiring patience. Therefore, bulls should continue to hold and consider shorting only at key resistance points. For now, the main focus is on buying on retracements.

Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop-losses. Safety first, small losses with big gains is the goal.

Buy from 2390 to 2360, defend at 2300 to add more, target 2400 to 2500, and if broken, look at 2600, with a stop-loss of 50 points.

Sell from 2500 to 2520, defend at 2570 to add more, target 2400 to 2350, and if broken, look at 2300, with a stop-loss of 50 points.

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, and the suggestions are for reference only; risks are borne by the reader.

This article is exclusively contributed by the Crypto Circle Academician and represents the academicians' unique views. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions may not be real-time and are for reference only; risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The academicians also hope that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Do not let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond to it; when there is no trend, observe and remain calm. It is not too late to act once 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, industry rewards excellence, and art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Crypto Circle Academician wishes you happy investing!

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