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Crypto Scholar: October 19, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 2645. It is now 1:25 AM Beijing time. The daily K-line has stretched and broken the previous high. Whether it will challenge 2700 next needs further observation. The trend cannot be followed by the same logic as Bitcoin; it has already diverged from Bitcoin and is following its own path. It is difficult to meet the expected standards and requires patience, especially as we enter the weekend, making further stretching even harder.

The daily K-line is still near the EMA90 resistance level of 2657, and the pressure is effective. Although the overall trend of the EMA is contracting, the daily box is still present, which is between EMA90 and EMA60. After the MACD volume increases, the DIF and DEA have ended their polarization, and the bullish trend is strong. The KDJ is expanding upwards into the overbought zone, indicating a probability of a pullback in the market.

Although the four-hour K-line has broken the ascending triangle, there is still a key previous high resistance level at 2690. The EMA15 trend support point at 2620 is effective, and the defense should focus on the EMA30 support at 2590. The MACD top divergence continues with reduced volume moving upwards, and the DIF and DEA are contracting at high levels. The Bollinger Bands show signs of opening, with the upper resistance at 2660. The KDJ is opening upwards, and overall, after a period of high-level consolidation, the bulls are likely to continue to exert strength. Pay attention to whether the previous high breaks before deciding on the layout.

Short-term strategy reference: 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 upper range of 2680 to 2700, go short, with a defense at 2740 to add to the short position, stop loss at 30 points, and target at 2640 to 2600, with a breakdown target at 2550.

For the lower range of 2530 to 2550, go long, with a defense at 2500 to add to the long position, stop loss at 30 points, and target at 2600 to 2650, with a breakdown target at 2700.

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

This article is exclusively contributed by the Crypto Scholar and represents the scholar's unique viewpoint. 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 viewpoints 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 scholar also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Don't 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 Scholar wishes you happy investing!

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