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Crypto Community Scholar: November 5, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 2386. It is now 9:30 AM Beijing time. I reminded everyone yesterday to prepare for hunting after breaking below 2400. This statement still holds; those who should have entered the market have already done so. For those who haven't, continue to observe. As for the results, everyone will naturally see them once the market moves.

Looking at the order book, the daily K-line has formed a bat pattern. Those who can read charts can draw a bullish bat pattern. The EMA trend indicator has entered the final stage of the downward channel, with the EMA15 fast line pressure at 2508. The MACD continues to shrink and spread downward, especially as both the DIF and DEA have entered below the 0 axis. Additionally, the K-line has touched the Bollinger Band's lower support at 2365. The KDJ is facing resistance at 2365, indicating that the support below is effective, and it is safe to go long.

On the four-hour K-line, after the close at 8 AM, it began to retrace. The EMA trend indicator is spreading downward and is basically nearing its end. The EMA15 pressure level has reached 2450, which can be considered the first resistance. The MACD's bottom divergence continues, with volume decreasing. The DIF and DEA are spreading downward, and the Bollinger Band has opened downward, with the K-line directly breaking below the lower track at 2402. Remember, once the K-line breaks below the Bollinger Band, it will eventually return to the Bollinger channel; this is common knowledge. The KDJ is facing resistance at 2355, and support is beginning to contract. The low long strategy is effective; continue to hold. For short positions, consider entering above 2480 after breaking the EMA30.

Short-term reference: Long positions have been entered; set stop-loss orders, safety first. Remember, the market is never 100% certain, so always set stop-loss orders. Safety first; the goal is to minimize losses and maximize gains.

For the upper range: Short from 2485 to 2505, with a stop-loss at 2550 for additional short positions, 30 points stop-loss, target at 2450 to 2400, and if broken, look at 2350.

For the lower range: Long from 2330 to 2360, with a stop-loss at 2250 to 2280 for additional long positions, 50 points stop-loss, target at 2420 to 2450, and if broken, look at 2500 to 2550.

Specific operations should be based on real-time data from the order book. 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 Crypto Community Scholar and represents the scholar's unique perspective. 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 views 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 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. Hard work is rewarded, integrity is valued, trust is essential, excellence is pursued, and passion is key. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-loss and take-profit orders for each trade. The Crypto Community Scholar wishes you happy investing!

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