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Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis for April 21, 2024

I hope everyone has a pleasant weekend. Today, on Sunday, the most concerning issue for everyone is whether the weekly chart will close with a bearish or bullish candle. So, how should the overall trend go? Where is the trend reversal point? How should we position ourselves? Don't rush, let's take it step by step. First, let's take a look at yesterday's market situation and the train of thought from yesterday's article. From yesterday morning, shorting above 3100 and closing the position at 3030 in the early morning, then going long and closing the position at 3110 in the late evening, a total of 150 points were gained from these two trades. After that, a short position was stopped out at 3140 after going long at 3110.

The range did not last as long as expected and broke before the daily candle closed, which was unexpected. However, even if yesterday was not good, it was still above 3030, with a take-profit at 3110 and a stop-loss at 3140. There was still a 60-point space overall, with one trade hitting the take-profit and the other hitting the stop-loss. Even if one of our trades incurred a small loss, I still think that this kind of range offers the best profit potential and is the most comfortable to trade. What do you think?

Yesterday's daily candle closed as a bullish candle, reaching a high of 3173. There is less than a hundred points of space to the resistance level above the trend line. Whether it can break through is not the main concern for now; let's focus on the market situation. Currently, the daily candle is at the EMA90 standing point of 3130, and after the KDJ formed a bullish crossover and started to diverge, the MACD showed decreasing volume and increasing funds for the fourth day, with the DIF and DEA getting closer and closer. After the Bollinger Bands opened up, the candle finally moved away from the lower band and approached the middle band at the resistance point of 3260. Be prepared to short if the upper range is not broken, and follow the trend to go long if it is broken. Set good stop-losses to avoid missing the opportunity for remedial action.

The four-hour candle has been continuously testing the pressure zone of the EMA trend indicator 60, and there will be a retracement in the short term after the strength diminishes. The bearish divergence mentioned in my previous article on the 2-hour and 4-hour charts ended after the market went above 3150. As long as it can stand steadily in the 3130-3150 range, a new round of uptrend will continue. The KDJ is now starting to form a small triangle, and the candle is consolidating above 3130, with the MACD showing increasing volume, the DIF crossing above the zero axis and moving upwards, and the DEA showing divergence. After breaking through the upper resistance of 3150 yesterday, today's pressure range has been extended to 3170. The strategy suggests continuing to go long if the support is not broken.

The range from yesterday has entered the vicinity of today's trend line. The strategy suggests being mainly long and partially short. Specific references are as follows: (ultra-short-term operation)

For long positions, consider entering the 3100-3130 range and continue to go long if it is not broken. Consider exiting if the 3160-3175 range is not broken, with a stop-loss at 3090.

For short positions, consider entering the 3160-3175 range and continue to short if it is not broken. Consider exiting if the 3130-3100 range is not broken, with a stop-loss at 3185.

Seize the opportunity for ultra-short-term trend swings over the weekend. Whether it breaks through the upper resistance at 3185 or breaks below 3090, you can catch a 30-50 point space with the trend. For detailed operations, consult a professional, as the market situation is constantly changing. In principle, after the trend line is broken, the probability of going long is higher. After the candle breaks through, there is often a situation of retracing to the trend line. At this time, you can add positions to maximize profits.

The specific operations should be based on real-time market data. For more information, consult the author. The article is published with a delay and is recommended for reference only. Please bear the risks responsibly.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. The viewpoints and suggestions for BTC, ETH, DOGE, DOT, FIL, EOS, etc., are not real-time due to the timing of the article's release and are for reference only. Reprint with proper attribution. Control your positions reasonably and avoid heavy or full positions. The Academician also hopes that investors understand that the market is always right. If you make a mistake, you should reflect on your own issues 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 be patient. It's 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 details. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment journey!

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