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Cryptocurrency Scholar: Ethereum (ETH) Latest Market Analysis Reference on 2024.12.8

The current price of Ethereum is 4015. It is now 4:30 AM Beijing time. Ethereum has reached a take-profit point of 4000, so I took profits early. The take-profit timing is something everyone should know. After holding for so many days, I secured over 450 points of space, which is enough. It's best to take profits when you can, as what you have in hand is yours. However, the goal remains the same: to reach the highest point of the year. Now that Bitcoin has broken 4000, it is expected that the main force will experience several rounds of profit-taking liquidation before continuing to break upwards. The trend has completely broken the balance, and now we can only push upwards with determination.

The daily K-line shows 4026, with a low of 3966. The EMA trend indicator is gradually widening upwards, and the MACD is expanding upwards with increased volume. The DIF and DEA fast and slow lines are widening. The Bollinger Bands are trending upwards, with the upper band breaking 4060. No signs of a pullback have been found in the overbought zone. The overall bullish gap has opened, similar to the gap after Bitcoin broke 73000. The future space is evident, and the trend is bullish. Therefore, the strategy is to go long after a pullback. During the day, if there is an opportunity to test the top resistance level, do not hold too long; enter and exit quickly. Manage your positions well to preserve your chips and survive. It’s best not to trade if there is no pullback.

The four-hour K-line is clearly in a sideways trend. Pay attention to key support and resistance levels in the short term. The MACD shows a top divergence with decreasing volume, and the DIF and DEA are about to form a death cross. The Bollinger Bands are contracting, with the upper band at 4090 and the lower band at 3770. It is expected that the market will briefly break the middle band at 3925. After further contraction, the lower band is expected to stretch and break 3800. There is no rush to enter; wait for the contraction to end and look for opportunities after a clear breakout. Be prepared with a focused mindset.

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 are the goal.

For the lower range of 3850 to 3800, go long with a stop-loss at 3750, risking 50 points, targeting 3950 to 4000, and if broken, looking at 4050 to 4100.

For the upper range of 4100 to 4150, go short with a stop-loss at 4200, risking 50 points, targeting 4000 to 3950, and if broken, looking at 3900 to 3850.

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; the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the Cryptocurrency 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. 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 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. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Cryptocurrency Scholar wishes you happy investing!

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