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Scholar in the cryptocurrency circle: November 12, 2024 Ethereum (ETH) latest market analysis reference

The current price of Ethereum is 3331. It is now 2:30 PM Beijing time. Let's first review yesterday's practical trading. After breaking the resistance level of 3185, I went long as the trend indicated. At that time, the short-term trend indicators showed extreme contraction, and the trading volume increased significantly. By 7:30 AM, I took profits at 3365. The 180-point move that previously took several days or even a week was achieved in just a few hours. Today, the market reached the key resistance level of 3400, so we should pay attention to the trading at this level. If it breaks, a new situation will emerge.

Since the daily K-line stabilized at 2400, it has stretched up to 1000 points today. However, the rebound has not ended. The EMA trend indicator is only halfway through its upward expansion, and the trend remains unchanged. The MACD is increasing in volume, but the DIF and DEA have not yet shown bullish energy indicators. The Bollinger Bands have opened up, with the fast line breaking the upper resistance level of 3338. The remaining task is to wait for the major trend indicators to reach key support levels.

The four-hour K-line shows a hanging top bearish candle. The EMA15 fast line support is at 3220, and the EMA30 is at 3090. The MACD's top divergence is becoming more severe, with increasing volume decreasing. The Bollinger Bands have formed an upward channel, with the upper resistance level at 3398 and the middle support level at 3175. The strategy is to focus on buying on dips, and do not go against the trend. Not everyone can escape unscathed when going against the trend; most people will be centralized. Follow the trend, and remember the six words: do not trade against the trend.

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 of 3500 to 3550, go short, with a stop-loss at 3600 and a target of 3400 to 3300. If it breaks, look at 3250, with a stop-loss of 50 points.

For the lower range of 3200 to 3250, go long, with a stop-loss at 3150 and a target of 3300 to 3400. If it breaks, look at 3450, with a stop-loss of 50 points.

Specific operations should be based on real-time market data. For more information, you can consult the author. The publication of this article may be delayed, and it is suggested for reference only; 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 views. 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 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. Do not 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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