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I am a scholar in the cryptocurrency circle, a warrior who has always been protecting the retail investors. I wish my fans financial freedom in 2024. Let's work hard together!

Scholar in the cryptocurrency circle: October 24, 2024, Ethereum (ETH) latest market analysis reference.

The current price of Ethereum is 2480. It is now 2:40 AM Beijing time. When I published yesterday, it was 2630. This can be considered a significant one-sided market. Previously, I mentioned that Ethereum touched the trend resistance level of 2780, which is an effective high-level trend resistance. The bears are coming, so I have been suggesting a short position at high levels. This one-sided drop directly broke below 2450, which is enough to show that the previous thinking was correct; it's just that very few believed it, as most were blindly chasing highs and cutting losses, ultimately leading to decentralization.

Looking at the market, the daily K-line had a high of 2630 and a low of 2440. It has already broken below the EMA trend indicator and entered a low position. The MACD is about to end its expansion, and the DIF and DEA are contracting downwards from a high position. If it breaks the previous low again, it will form a death cross. The Bollinger Bands have lost the middle line at 2527, with the lower support point focusing on 2310. The KDJ is diving down, indicating strong bearish sentiment. The thinking remains bearish.

The four-hour K-line is not just about drawing doors; it clearly shows a market that has been pushed up for selling, with a sharp drop downwards, forcibly reversing the EMA trend indicator and spreading downwards. The bearish momentum, from an overall perspective, is only halfway through, and there is still a lot of space to go. The four-hour AMCD is decreasing in volume, with the DIF and DEA breaking below the 0 axis. The Bollinger Bands are being forced open downwards, and the K-line has also broken below the lower Bollinger Band at 2525. The middle line pressure level is at 2650. The KDJ is blocked at 2450 and is starting to contract upwards, forming a golden cross. In the short term, a pullback is expected. The suggestion is to continue shorting after a pullback to the resistance level, and not to overtrade for now.

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.

For short positions, sell between 2570 and 2600, with a stop-loss at 2640 and a target of 2520 to 2470. If it breaks, look for 2420.

For long positions, buy between 2400 and 2430, with a stop-loss at 2360 and a target of 2495 to 2540. If it breaks, look for 2600.

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 to be borne by you.

This article is exclusively contributed by the scholar in the cryptocurrency circle 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 to be borne by you. 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 comes 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 happen unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The scholar in the cryptocurrency circle wishes you happy investing!

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