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Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis Reference for April 22, 2024

Firstly, let's review the market. Yesterday, the Ethereum strategy was to operate within the range. It went long at over 3130, with the target of exiting at 3175, making a small profit of 45 points, and then reversed to short at 3175 with a stop loss at 3185, resulting in a small loss of 10 points. One thing I want to tell everyone is that the upper pressure has increased. If the pullback does not break 3130, continue to go long and stay stable. Since the short stop loss has been triggered at the high level, it indicates that the risk of shorting is greater than the return. Yesterday evening, it went long at over 3130, and at 9:20 in the morning, it reached 3175 again, gaining 45 points. Although the space is not large, it is still within the range. It's just that this range has been raised from 3175 to 3200. As of the time of writing, Ethereum has returned to 3130. We need to wait and see if it can reach the target of 3175.

Currently, Ethereum has reached 3143. Now, two camps have emerged. Some say that the weekly chart closing with a negative shadow this week indicates a major decline, while others say that the small negative shadow on the weekly chart indicates a market reversal and a bullish view. What does the real-time situation look like? As the market performance is very tepid, not as volatile as expected, but rather in a range-bound recovery, I have been talking about the range for three consecutive days. Don't you all understand?

Range-bound market is the easiest and best to capture, especially for experienced contract traders who understand that this type of market is purely captured with eyes closed. Currently, the daily K-line has been standing above the EMA90 trend indicator for three consecutive days, and let's look at the position of the EMA30 and EMA60 crossover point? It's near 3250. The KDJ is diverging upwards, and the MACD is continuously decreasing in volume, indicating increased funding. The bulls are in a strong phase, and the DIF and DEA are starting to converge, forming a golden cross trend. The Bollinger Band's midline is at 3255, and the bottom support is starting to stop the downward return. Overall, the trend is mainly a short-term rebound and long positioning.

The ultra-short trend on the four-hour chart has been continuously retracing the EMA trend indicator upwards. This time, the support at 3130, which is the EMA15 retracement, has shown strong performance in the short term and can be used as a reference for entry points. Pay attention to whether the EMA90 trend indicator above can be held, and the resistance at 3205. If it holds, it will still be a range-bound consolidation and can continue to go long. The KDJ is diverging downwards from the K-line, and the MACD is increasing in volume. Both the DIF and DEA have crossed the zero axis and entered the upward range. The Bollinger Band is diverging upwards, and the K-line has moved from the midline at 3110 to below the resistance at 3210. The strategy can be to position short near the resistance level and position long near the support level (do what needs to be done at the point, and even if it's done wrong, it's important to have good stop-loss and take-profit strategies).

Specific entry references are as follows:

Long entry points are around 3100 and 3130, and the exit points are the first resistance range of 3180 and 3200. If it is not broken, exit. The second range is 3245 and 3485. Whether it can break through the second resistance, exit first and wait for the next opportunity to enter. Although the bulls are strong, it does not mean that there will be no pullback. The stop loss for long positions is 3050, and there is a range for pullback, so it is possible to adjust the position as needed.

Aggressive traders can short around the range of 3180 and 3200, with the target of 3150 and 3130, and a stop loss at 3220. For conservative traders, do not short, but the risk of shorting is greater than the return, just like gambling in a tiger's mouth. It is recommended to focus on long positions for pullbacks and have good stop-loss strategies. Even if you exit with a small loss, it is acceptable.

Specific operations should be based on real-time market data. For more information, please consult the author. The article is published with a delay, and it is recommended for reference only. The risk is at your own.

This article is exclusively provided by the Cryptocurrency Academician and represents the exclusive views of the academician. It has in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. The risk is at your own. Reprinting should indicate the source. Reasonably control your position and do not overexpose or go all in. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should summarize your own problems. There is no need to be smarter than the market in investment. When the trend comes, follow it; when there is no trend, observe and be patient. It is not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. Heaven rewards hard work, earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are all in the blink of an eye. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment!

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