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Scholar in the cryptocurrency circle: Ethereum (ETH) latest market analysis reference as of 2024.10.31

The current price of Ethereum is 2658. It is now 4 AM Beijing time. The daily K-line has reached a high of 2723. Internal students have already entered a short position at 2720, with a stop-loss at 30 points and a defense at 2770. Everything that needs to be done has been done; just execute according to the trading system. As always, operate rationally and layout reasonably. Aim for small losses and big profits; let others chase highs and cut losses.

Currently, the daily K-line has broken through the EMA120 trend indicator resistance level of 2702 and has returned below the EMA120. The support point is referenced at EMA60 support of 2575. The MACD is increasing in volume, with the DIF and DEA crossing above the 0 axis. The frequency of the exchange between long and short positions will increase as the volume indicators continue to shrink. The upper Bollinger Band is flat at 2746, and the middle band has risen to 2575. The trend is too strong to be real, and market sentiment has driven greed; that's human nature.

The four-hour K-line hit 2720 and then quickly retraced, showing a long upper shadow. The market selling pressure is very obvious. The upward expansion of the EMA trend indicator ended quickly. The EMA15 support point is referenced at 2623, and the mid-line support is referenced at the EMA30 trend line of 2590. The MACD shows a decrease in volume, and a top divergence trend has already appeared. The DIF and DEA are contracting at high levels, and it cannot be ruled out that the previous high may be broken. Maintain defense and set stop-losses; the short position strategy remains unchanged. Pay attention to the strength of the Bollinger Band middle support at 2590. The KDJ is continuing to expand downward.

Short-term reference: Safety first. Remember that market conditions are never 100%, so always set stop-losses. Safety first; small losses and big profits are the goal.

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

For the lower range, long from 2560 to 2580, with a defense 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; the suggestions are for reference only, and risks are 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 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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