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Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis Reference for May 10, 2024

The day before yesterday, the long position near 3010 for Ethereum was stopped out at 2990, but the short position at 3010 yesterday was closed at 2950, and a successful long position was also closed at 3000, gaining 110 points of space. The details of these operations were all shared in yesterday's article, including the short position at the current price of 3010, which was also shared at the beginning. Whether it's a donkey or a horse, you'll know once you take it out for a walk.

Let's take a look at the current market situation. As of 2:00 am on May 10th, Ethereum's current price is 3010, which was also the price when the article was published yesterday. The market is still in the same situation, and the daily K-line has reversed the bearish trend from yesterday. The upward pressure EMA trend indicator's pressure level at 3025 is not strong overall. It is expected to further stretch upwards because the KDJ indicator is converging upwards, the MACD volume is increasing, and the DIF and DEA are converging at a low level. Although the trend has not reversed, the short-term upward space has opened up. The next resistance level to watch is 3115, according to the Bollinger Band.

The performance of the four-hour K-line is more obvious. It has continuously closed with positive candles, breaking through the 3000 level and consolidating near the round number. After stabilizing, it is expected to further test the attitude near the 3100 resistance level, especially with the upward trend of the KDJ and the golden cross formed by the MACD volume increase leading to the convergence of DIF and DEA. The current K-line is starting to challenge the 3025 resistance level of the Bollinger Band. If it breaks through, there will be a short-term profit opportunity.

For reference, the entry point for long positions is in the range of 2970 to 2950, and the exit points are near 3030 and 3110, with a stop loss at 2920. For short positions, the entry points are in the range of 3110 to 3130, and the exit points are near 3030 and 2980, with a stop loss of 30 points.

Please note that 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. All risks are at your own.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. It involves 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. Reprinting requires attribution. Please manage your positions reasonably and avoid overexposure or full exposure. The Academician also hopes that investors understand that the market is always right. If you make a mistake, you should reflect on your own problems 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 never too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The universe rewards hard work, the earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are both incidental. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment experience!

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