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Currency Circle Academician: Ethereum (ETH) Latest Market Analysis for April 25, 2024

First, let's review yesterday's actual combat situation. The train of thought for Bitcoin yesterday was to go long near 3210, with a target of around 3265, and then wait for an opportunity to enter the market at the designated position. As the market did not give a short signal at the expected entry point, there was no choice but to stay out of the market. After Bitcoin fell below the trend indicator of 66000, Ethereum, which had been holding at 3250, also failed to hold and fell below 3200. At night, it even fell to 3130, the trend reversal point. From the overall trend, the 3130 support is effective. After a clear signal appears, you can start to lay out.

As of the time of writing, Ethereum is trading near 3160. After yesterday's washout, the daily K-line fell into the EMA trend indicator. Today's opening price stood near the 3130 support point above the EMA90. KDJ retraced and was resisted at 3185, starting to converge. MACD volume increased, and the DIF and DEA formed a golden cross at a low level. From this, it can be judged that the 3130 support below is effective, and the Bollinger Bands are open and empty, breaking through the midline of 3240, which has changed from a support to a strong pressure. In the short term, you can pay attention to not breaking the pressure, and the trend will go short in the short term.

The four-hour K-line directly fell below the EMA trend indicator and entered the lower part. The upper pressure level was given near 3180. The four-hour K-line was also resisted, with a 30-point difference between the 3100 support and the 3130 range on the daily K-line. MACD volume increased, and the train of thought can be operated using conventional methods. The four-hour K-line directly fell from the upper rail to the lower rail, piercing both up and down. Such a market will rebound after a short period of accumulation. The possibility of a large U-shaped pattern is high. It is suggested to focus on going long in the short term, with short positions as a supplement.

Specific entry references are as follows:

• If the support between 3130 and 3100 below is not broken, you can go long for a short wave, with a stop loss at 3090 and a target of 30 to 50 points.
• For short waves above, you can consider going short if the range between 3175 and 3185 is not broken, with a target of around 30 points and a stop loss at 3190. (For ultra-short-term stop loss, if the pressure level is broken, you can exit the market. If not, you can operate repeatedly, grasping the profit space.)
• For the cautious, if the 3100 support is lost, you can consider going long in the range of 3050 to 3030, with targets around 3150 and 3250, and a stop loss at the 3000 level. 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 is recommended for reference only. Trade at your own risk.

This article is exclusively provided by the Currency Circle Academician and represents the academician's exclusive viewpoint. With in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, and others, due to the timing of the article's release, the above viewpoints and suggestions are not real-time and are for reference only. Trade at your own risk. Reprinting requires attribution. Please control your positions reasonably and do not overexpose or go all in. The academician also hopes that investors understand that the market is always right. If you make a mistake, you should summarize your own problems and not let the potential profit 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 is not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The heavens reward diligence, the 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 Currency Circle Academician wishes you a pleasant investment journey!

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