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Crypto Scholar: November 23, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 3280. It is now 3 AM Beijing time. Before this article was published, Ethereum reached a high of 3430 and a low of 3255. Neither bulls nor bears have entered the hunting zone yet; currently, everyone is just watching and waiting. The daily K-line has formed a double top pattern. Whether it can fully take shape will require time to see how the market develops. The original plan yesterday was to enter the market directly if it broke 3430, but the order book did not provide an opportunity to short, and the pullback depth was insufficient. At this moment, not making a move is also a decision.

After the daily K-line's battle strength EMA15 yesterday began to stretch, which means it broke through 3400 from 3100. The MACD top divergence continues, and the Bollinger Bands are expanding. The upper pressure level to watch is 3595, and the middle track support is at 3020. The trend remains bullish, but currently, the larger market has formed a U-shaped transition.

On the four-hour K-line, the ascending triangle broke out, but ultimately failed to break through the key horizontal resistance level of 3430 and fell back to the EMA15 support point of 3255. The MACD top divergence continues. The short-term indicators express it more simply; there will be a pullback, but the intensity of the pullback is uncertain—whether it will be a few thousand points or tens of thousands of points is hard to say. The KDJ has formed a downward dead cross, indicating an overall pullback trend. So, wait for an effective pullback support before continuing to go long.

Short-term reference: Safety first. Remember, the market is never 100% certain, so always set stop-losses. Safety first, small losses with big gains is the goal.

Buy between 3200 and 3250, with a stop-loss at 3150, risking 50 points, targeting 3300 to 3350, and if broken, look at 3450.

Sell between 3450 and 3500, with a stop-loss at 3550, risking 50 points, targeting 3400 to 3350, and if broken, look at 3300.

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 you.

This article is exclusively contributed by the Crypto Scholar 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 you. 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 stems 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 Crypto Scholar wishes you happy investing!

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