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Scholar in the cryptocurrency circle: Latest market analysis reference for Ethereum (ETH) on October 30, 2024.

There is a high probability that Ethereum will drag down the cryptocurrency market, especially when Bitcoin is stretching unilaterally to hit historical highs. A reverse plunge in Ethereum could lead to the collapse of altcoins and painful situations for new coins. The short position at 2700 given yesterday afternoon has not been reached before this publication. The current price of Ethereum is 2620. It is now 4 AM Beijing time. The daily K-line has a high of 2682 and a low of 2560, still struggling within the range.

Currently, after the daily K-line failed to break through EMA120, it has directly fallen below the EMA90 support at 2640. It is hard to say whether it will continue to test EMA60 again, as the overall trend has already shown four consecutive bullish candles. The MACD has also shown a trend of decreasing volume and increasing positions. The DIF and DEA are contracting above the zero line, and the KDJ has formed a golden cross. The Bollinger Bands are showing simultaneous contraction of both long and short positions. The upper resistance level is at 2745, and the lower support level has stretched to 2380. The key point to watch is whether today's daily K-line can stretch and break 2700. If it breaks, we can consider starting to lay out short positions and temporarily wait for the right opportunity.

The four-hour K-line has shown a long hanging candle, dropping from 2680. There is obvious selling pressure in the market. The EMA trend indicator is still showing a bullish stretching trend, with the EMA15 support point now around 2575, which can be considered as a short-term support point for the K-line. The MACD volume has decreased, and the DIF and DEA remain unchanged in their upward spread. The Bollinger Bands are opening up, with the upper band breaking at 2655 and the middle band at 2540. The KDJ has formed a death cross downward, indicating a clear trend of correction. Pay attention to the market support points; if the support holds, we can try long positions. Otherwise, wait for a break above 2700 to start testing short positions.

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 the upper range, short from 2700 to 2730, with a stop-loss at 2780 for additional short positions, and a stop-loss of 50 points. The target is 2650 to 2600, with further targets at 2550 and 2500.

For the lower range, long from 2560 to 2580, with a stop-loss at 2510 for additional long positions, and a stop-loss of 30 points. The target is 2650 to 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 to be borne by the reader.

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 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 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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