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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: December 3, 2024, Ethereum (ETH) latest market analysis reference.

The current price of Ethereum is 3625. It is now 3 AM Beijing time. Let's review: the daily K-line has once again broken the previous high, but it has also fallen below the neckline at 3690. In the end, the long positions were closed at the neckline, and I did not chase the short, but I entered long at 3560, with a stop loss at 3530 and a stop loss set below 3500. Whether it can hold is not the main concern for now; let's just get in. If wrong, we exit with a small loss; if right, congratulations to everyone!

Now let's look at the current market. The daily K-line reached a high of 3765, breaking the previous high again, and then the main force took profits and liquidated long positions, dropping to a low of 3555. We placed an order at 3560; otherwise, we really wouldn't have been able to get in. We must not have a mindset of luck, as further liquidation actions cannot be ruled out. Therefore, we must set stop losses properly. For now, let's not consider profits; let's focus on survival. The EMA15 trend support is at 3450, and the major neckline is at 3300. The MACD has been showing divergence at the top for a long time, continuously increasing in volume. The DIF and DEA are also spreading high and not coming down. Although it has already dropped two hundred points, it is still at a high level. The fast line has not broken the upper Bollinger Band at 3790, and the middle band support is at 3350.

On the four-hour K-line, a double bearish engulfing pattern has appeared, continuously piercing the EMA30 trend line at 3615. The next level of support is at EMA60 at 3524. The bearish trend is indeed strong, but the major bullish trend has not yet broken. The MACD is decreasing in volume, and the DIF and DEA have come close to the 0 axis. Additionally, the K-line has continuously tested the lower Bollinger Band support at 3570. Our entry point is at 3560, which is 10 points below the lower band. The stop loss will not be set too far; if wrong, we exit with a small loss. We should pay attention to the next key support around 3300. For now, we hold, and the strategy remains to buy on dips and be cautious when shorting at highs.

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

For the upper range, short from 3700 to 3750, with a stop loss at 3800 and a 50-point stop loss. The target is 3600 to 3550, and if broken, look at 3500.

For the lower range, long from 3500 to 3530, with a 50-point stop loss. The target is 3600 to 3650, and if broken, look at 3700.

Currently, manage the defense and stop loss points for the entry at 3560. Safety first. Pay attention to whether the previous high can be broken to decide whether to close positions. The practical details have been updated; follow the author.

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. 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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