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Crypto Scholar: December 19, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 3700. It is now 4:35 AM Beijing time. The price before yesterday's article was 3940, and it has now dropped over 200 points. I have said that the market is never short of opportunities. As long as we protect the chips in our hands, the train we are waiting for will naturally come. The major support point is approaching quickly; whether it can be reached is still unknown. Just wait. Do not chase after rapid rises and falls; wait for the stop loss before making any decisions.

The daily K-line reached a high of 3910 and a low of 3630, slightly breaking the EMA30 support at the key point of 3645. The short-term bearish trend is very strong. The MACD shows a decrease in volume, and both DIF and DEA remain high and are expanding. The Bollinger Bands are contracting, and the K-line has retraced and broken below the middle line of the Bollinger Bands at 3815. Pay attention to the lower support point at 3540 as a trial entry point for long positions. After the KDJ crosses downwards, it begins to expand. The overall trend is a sharp decline; wait for the stop loss. Do not engage in chasing rises and falls to prevent the main force from liquidating both long and short positions.

The four-hour K-line has already broken below the EMA120 trend indicator support at 3770. Now the support has turned into a resistance level. The MACD shows a decrease in volume, and both DIF and DEA have fallen below the 0 axis. The lower Bollinger Band at 3750 has been lost, and the K-line has entered the oversold phase. It is not far from extreme overbought, so be prepared to enter decisively at the right position without hesitation. Those shorting can pay attention to the support area between 3550 and 3500. If it holds, profits can be taken again. Conservative traders can enter in this range and manage their positions well.

Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop losses. Safety first; small losses and big gains are the goal.

Shorting trial entry point: 3750 to 3800, stop loss 50 points, target 3700 to 3650, if broken, look at 3600 to 3550.

Going long trial entry point: 3550 to 3600, defend at 3500, stop loss 50 points, target 3650 to 3700, if broken, look at 3750 to 3800.

Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication; the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the Crypto Scholar and represents the scholar's unique viewpoint. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above viewpoints and suggestions may not be real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Do not let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond to it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop losses and take profits for each trade. The Crypto Scholar wishes you happy investing!

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