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 sustain yourself. Only those who survive in the crypto space for the long term and persist 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: Latest Ethereum (ETH) Market Analysis Reference on 2024.10.10

It is currently 2 AM Beijing time, and Ethereum's current price is 2420. You can see that the overall trend is much stronger than Bitcoin. The first target reached yesterday was above 2420, with the target set at 2470. Many fans asked why, with Bitcoin looking bearish, Ethereum has a bullish outlook. After the market moved, everyone understood that this is how it is. In fact, it has become quite normal for Bitcoin and Ethereum to move independently. This situation has occurred more than once, which is why I write about the two cryptocurrencies separately to analyze the market.

Currently, the daily K-line has been supported at the 2400 level for five consecutive days, and it has not dropped below this level. This position has strong resistance, but the EMA30 resistance level above at 2490 is also strong. Therefore, a pullback to 2420 can continue to test long positions, but the stop loss must be set below 2400. If it breaks below, you must abandon the bullish position and turn bearish. You cannot go against the market; if you are wrong, you must acknowledge it. The MACD is showing a decrease in volume, and the DIF and DEA are contracting below the zero axis. The Bollinger Bands show a middle resistance level to watch at 2530, with the lower support level at 2300. The KDJ is extremely contracted, and the direction will soon become clear.

The four-hour K-line has reached a critical support point. It depends on whether this position can hold, as it is the bullish defense line. If it cannot hold, the bearish momentum will take over. If it holds, the bullish momentum is still there. The EMA trend indicator is still in a contraction phase, and the MACD shows a decrease in volume. The DIF and DEA are experiencing extreme contraction at the zero axis, leading to a contraction in the Bollinger Bands. The lower support point has come to 2405, and the KDJ is contracting downwards. All major technical indicators suggest that the 2400 level has become the dividing line between bullish and bearish. Pay close attention to this position.

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

Current price is above 2420, with targets at 2450 to 2500. If it breaks, look at 2550, with a stop loss at 2390.

For the upper range of 2450 to 2470, go short with a 30-point stop loss, targeting 2400 to 2350. If it breaks, look at 2300.

For the lower range of 2300 to 2330, go long with a 30-point stop loss, targeting 2400 to 2450. If it breaks, look at 2500.

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 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 summarize where your issues lie and 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. Hard work is rewarded, integrity is valued, and excellence is pursued. 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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