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Crypto Community Scholar: October 21, 2024 Ethereum (ETH) Latest Market Analysis Reference

Ethereum's sudden rebound broke 2700, breaking a long-standing curse. The weekly chart has broken through a key resistance level and is now below the EMA30 key point of 2795 on the weekly trend pressure level. Currently, support is above the EMA15 support point of 2705. Whether it can firmly establish a bottom support depends on the strength of today's stretch. If today's market continues the one-sided stretch from last Monday, this week will still be a strong phase. If it doesn't go up, there is a probability of liquidation this week that needs attention.

Ethereum's current price is 2740. It is now 10 AM Beijing time. The daily K-line has reached a high position of the EMA trend indicator, standing above the EMA120 trend line of 2727. The MACD is expanding, and the DIF and DEA have not yet exited the energy indicator. The bullish trend has not ended, and there is still a stretching trend. The highest point has reached 2771, indicating that the short-term resistance at 2795 is strong. Pay attention to the 120 trend line on the pullback. The upper resistance point of the Bollinger Bands is 2761, with the middle track still at 2510. The KDJ is contracting at a high position, and the overall trend is currently consolidating at a high level.

The four-hour short-term trend has encountered resistance. The EMA15 trend support point is still pulling up and has reached 2675. The MACD shows a top divergence with increasing positions. The DIF and DEA are expanding upwards. The upper track of the Bollinger Bands has lost support at 2730, turning pressure into support. The middle track support is at 2655. Overall, the four-hour level trend has already made a secondary jump, and now it has entered the third level. Whether it can continue to jump and achieve further rebound depends on the strength of the pullback support. It is recommended to try short positions at key resistance levels and lay out long positions at support levels.

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

For the upper range of 2770 to 2800, short positions with a stop-loss at 2850 for additional shorting, targeting 2700 to 2650, with a break point at 2600 and a stop-loss of 50 points.

For the lower range of 2600 to 2650, long positions with a stop-loss at 2550 for additional long positions, targeting 2700 to 2750, with a break point at 2800 and a stop-loss of 50 points.

For ultra-short strategies, pay attention to the neckline position for shorting, with a stop-loss of 10 points. Specifically, you can refer to 2750, with the lower support point near 2700. Don't develop a habit of ultra-short trading; otherwise, your perception will narrow. Cultivating a mindset to catch trends is essential to achieve the goal of small losses and big gains.

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 Community 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; 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 Community Scholar wishes you happy investing!

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