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Coin Circle Academician: Ethereum (ETH) Latest Market Analysis as of September 24, 2024

Yesterday's article mentioned that after the first breakthrough of 2700, there would be a pullback to the support at 2630, and then another push towards 2700. Looking at the market, within 24 hours, it once again approached the 2700 mark. At the time of writing, the current price of Ethereum is 2630, just standing at the EMA60 trend line at 2635. After the push and pullback, it fell below the EMA60, and the EMA30 and 15 are converging, but the bullish trend is still intact. After the end of the trend deviation at the bottom of the MACD volume, the DIF and DEA entered a divergence, and a high-level consolidation is inevitable. After the consolidation, the direction will be chosen. Whether it's long or short, it's not for us to speculate now. We just need to be cautious.

Especially after positioning long at 2220, 2330, and 2400, be prepared for retracement and profit-taking. Pay attention to the resistance point at 2665 on the upper Bollinger Band. The KDJ is blocked at a high level, and the daily K-line shows an ascending flag pattern, with support around 2550, which can be focused on. If 2620 cannot hold, there is a high probability of further probing for the bottom to absorb.

The four-hour K-line has three consecutive declines, testing the EMA15 trend support at 2615, and focusing on the next support at 2565. The MACD top deviation with shrinking volume is descending, and the DIF and DEA have formed a death cross at a high level, further indicating the imminent bearish trend in the short term. Coupled with the current K-line probing the support at the middle Bollinger Band at 2600 and the death cross trend of KDJ, the overall trend is turning bullish, and a short-term retracement is seen. Therefore, the strategy can be to wait for the bottoming out and then go long.

Short-term strategy reference: Remember, the market is not always certain, so always set a good stop-loss. Safety first. Small losses lead to big gains.

Long position: Buy in the range of 2550 to 2580, add positions at 2500, stop loss at 40 points, target 2600 to 2650, and if broken, target 2700 to 2750.

Short position: Sell in the range of 2700 to 2730, add positions at 2770, stop loss at 40 points, target 2650 to 2600, and if broken, target 2565.

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

This article is exclusively provided by the Coin Circle Academician and represents the Academician's exclusive viewpoint. The viewpoints and suggestions regarding 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. Reprinting should indicate the source. Please 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 are wrong, 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 investing. 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. 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 all in the details. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Coin Circle Academician wishes you a pleasant investment journey!

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