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 develop 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: 2024.10.8 Ethereum (ETH) Latest Market Analysis Reference

Ethereum's current price is 2460. It is now 2 AM Beijing time. The daily K-line has broken through the EMA15 and EMA30 major trend line resistance levels, surpassing 2500 and reaching a high of 2520. An upward channel has formed, and a new resistance level has appeared. The support point can be referenced at the neckline level of 2400. If the support holds, you can continue to enter long positions, and do a good job of risk management, leaving the rest to time.

Looking at the market, the daily K-line has just broken the two EMA trend lines and has not yet stabilized. We need to wait until the closing price after 8 AM to see if it can stay above EMA30. The MACD is showing a decrease in volume and an increase in positions, with DIF and DEA spreading below the zero axis. The Bollinger Bands show a resistance level to watch at 2530, and the lower support level to watch is 2300. The KDJ is contracting upwards with a golden cross trend. In the short term, the bullish trend remains unchanged. Pay attention to the upper EMA60 resistance point at 2590; if it does not break, you can start testing short positions.

The four-hour K-line has broken above the EMA trend line, and with the overall EMA trend starting to contract, the K-line has entered an upward channel. Pay attention to the overlapping point of EMA15 and EMA30 at 2450. The MACD is showing an increase in volume, with DIF and DEA entering a polarized state. The market is showing a trend of consolidation below 2500. In the short term, a pullback is not ruled out, so those who have not entered can wait for an opportunity. After the K-line pulls back to 2400, you can continue to enter, with the top resistance level for short positions.

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

For the lower range of 2390 to 2400, go long, with a stop-loss at 2330 for additional positions. The target is 2450 to 2500, with a breakout target of 2600 and a stop-loss of 50 points.

For the upper range of 2550 to 2600, go short, with a stop-loss at 2650 for additional positions. The target is 2450 to 2400, with a breakout target of 2350 and 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 provided by the Crypto Circle Academician and represents the unique views of the Academician. 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 Academician also hopes 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 and follow 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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