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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: Ethereum (ETH) latest market analysis reference on November 1, 2024.

It is currently 3:20 PM Beijing time, and Ethereum's current price is 3142. Yesterday's daily K-line broke the previous high again, reaching 3252. I have been closely watching the market for Bitcoin and continuously adjusting my positions, so I have chosen to stay on the sidelines. One thing to note is that no matter how Ethereum moves, it will eventually return to the 3000 mark, especially in this round of bull market stretch; it will ultimately return to 3000, it's just a matter of time.

After today's opening, Ethereum remains at a relatively high position. The EMA trend has just begun to cross upwards. The EMA15 is currently at the 2800 mark and continues to stretch. For support, we should temporarily focus on the strength of the trend line's pullback support point at 3050. The MACD is increasing in volume, and the daily K-line has broken the upper Bollinger Band at 3158 for several days but has finally returned to the Bollinger Band channel. The KDJ has started to contract after being blocked at the upper pressure level.

The four-hour K-line shows a pullback, and the K-line has already pulled back to the EMA15 trend fast line support point at 3100. Pay attention to the next medium-term EMA30 support at 2975. The MACD shows serious top divergence, with DIF and DEA forming a death cross downwards at a high level, decreasing in volume. The middle track of the Bollinger Band support is at 3065, and the KDJ is continuously expanding downwards, indicating a downward trend. Focus on the strength of the support points and prepare for both scenarios: if it doesn't break, set up a short position; if it breaks, go with the trend for a short position. Currently, the large-scale trend is very bullish, and the short-term pullback has not yet reached support.

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 3200 to 3250, with a stop-loss of 30 points, targeting 3150 to 3100, and if it breaks, look at 3050.

For the lower range, long from 3030 to 3060, defending at 3000 to add to the long position, with a stop-loss of 30 points, targeting 3120 to 3160, and if it breaks, look at 3200 to 3250.

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 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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