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Crypto Scholar: December 20, 2024 Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 3370. It is now 4:30 AM Beijing time. Today is a celebration for the bears. Congratulations to everyone who shorted above 3700; this wave has brought you freedom. You can pop the champagne this weekend. The main reason for the market's continuous liquidation over the past two days is that the first understanding king has shown goodwill to the Dragon Country, Musk is under investigation, and Powell has spoken. Together, it seems that capital has collectively decided to short.

Let's take a look at the current market. The daily K-line has a high of 3720 and a low of 3322, with three consecutive bearish candles, directly breaking below the EMA60 trend indicator support at 3360. Currently, the K-line is standing at EMA60. The next key support levels to watch are 3210 and 3130, which serve as the long entry vacuum zone and reference area. Friends who are going long should remember to set stop losses; survive first before considering profits. No one in this market has lost everything because they set stop losses, but 99% of those who don't end up being decentralized. The MACD is shrinking downwards, with the DIF and DEA spreading downwards from a high position, still some distance from the 0 axis. The divergence has not ended. The lower Bollinger Band at 3465 has been lost, and the KDJ is spreading downwards, waiting for the market to enter the oversold zone before entering.

The four-hour K-line pulled back to 3720 before facing resistance and starting to move downwards. The EMA trend indicator is spreading downwards, indicating a bearish trend. The EMA15 has already broken below major trend indicators, reaching 3690. The MACD is continuously shrinking downwards, and the DIF and DEA are about to break below the energy indicator. The K-line is testing around the lower Bollinger Band at 3430. Friends going long are advised to set stop losses at 3320; if it breaks, you can exit and wait for key points to re-enter. Pay attention to the major support level at 3130 and the major resistance level at 3580. The mindset is that the bearish trend is taking shape; do not trade when the trend is not adjusted. After the adjustment, focus on shorting, with long positions as a supplement.

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.

For long positions, try entry points from 3220 to 3170, with a defense at 3130, stop loss at 50 points, and targets looking at 3300 to 3350, with a breakout target of 3400 to 3450.

For short positions, try entry points from 3550 to 3600, with a defense at 3650, stop loss at 50 points, and targets looking at 3500 to 3450, with a breakout target of 3400 to 3350.

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 views. 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 views 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; do not operate with 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 your issues lie. 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 and follow 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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