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Cryptocurrency Circle Academician: Ethereum (ETH) Latest Market Analysis Reference for April 16, 2024

The market situation and predictions yesterday had almost zero deviation. The strategy yesterday was to lay out a short position at 3250, with a stop loss at 3350. Unfortunately, the candlestick chart did not come down to the intersection point of the trend indicator and then drop near 3300. Otherwise, there would have been a larger profit space for adding positions near 3300. Due to time constraints, only a few people have entered the long position at 3050. They should continue to hold, and the upper target can be referred to today's strategy.

Looking at today's market, as of the time of writing, Ethereum is trading near 3090, and the market has returned to around 3050, where you can continue to enter long positions. It can be seen that yesterday's candlestick has a long upper wick and a long lower shadow, indicating significant fluctuations. Combined with the current known EMA trend indicator, it is in a bottom consolidation phase. The KDJ convergence is blocked near 3050, making the vacuum zone a key level. It remains to be seen whether it can be held. The MACD shrinking volume has led to continuous bearish indicators driving the DIF and DEA trends to diverge downwards. Fortunately, the candlestick has returned to the inside of the Bollinger Bands channel. Although it is currently in a low consolidation phase, attention should be paid to the lower band support at the key level of 3000. There is still a distance of over three hundred points to the middle band above, which can be seized upon.

The four-hour candlestick broke below the EMA trend indicator overnight. Now, it is consolidating below the EMA10, and the overall alternating downward trend has ended. The downside space is limited and is temporarily tending to be stable. The main approach can be to operate with a bias towards long positions at lower levels. After the KDJ opens downwards, the MACD has started to show a divergence trend at the bottom, with the DIF and DEA spreading upwards with low volume. The overall trend is in a sideways state. Conservative traders can take advantage of small spaces for profit, while aggressive traders can lay out long positions at lower levels for a longer period (remember to set stop losses). The Bollinger Bands are closing in, and the resistance at 3140 won't last long. (The market is currently at the critical point of 3000. If it doesn't break, the bulls should continue to hold.)

Specific reference suggestions are as follows:

• Enter long positions in the 3070-3030 range, with targets at 3150-3250 range, and stop losses near the 2980 level.
• Enter short positions in the 3250-3300 range, with targets at 3150-3050 range, and stop losses near the 3350 level.

(Focus on the critical point of 3000. It is currently at a dense area just above this level. Remember to set stop losses and avoid being washed out.)

Specific operations should mainly rely 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. All risks are at your own.

This article is exclusively provided by the Cryptocurrency Circle Academician and represents the academician's exclusive viewpoint. It involves in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above viewpoints and suggestions are not real-time and are for reference only. All risks are at your own. Reprinting should indicate the source. Manage your positions reasonably and avoid heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you make a mistake, you should summarize where your own problems lie and not let the potential profits slip away. 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 wait. It's not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The way of heaven rewards hard work, the way of earth rewards kindness, the way of people rewards sincerity, the way of business rewards trust, the way of industry rewards precision, and the way of 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 Circle Academician wishes you a pleasant investment journey!

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