Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be overly anxious. Even if there are short-term losses, there is nothing to fear. As long as the subsequent direction is chosen correctly, what has been lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to increase the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends learn while trading, summarizing both profits and losses in a timely manner, deepening their understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

10.17 Ethereum (ETH) Market Analysis Reference

Ethereum's trend is linked to the overall market. Yesterday, it attempted to recover but faced resistance around the 4080 level. The subsequent market began to decline, and the price once again fell below significant support levels. The strength of the intraday rebound has also weakened, with prices continuously moving lower. As of the time of writing, the price is around 3740, with bearish sentiment gradually strengthening. The key support to watch is the 3630 level, and caution is advised against a potential breakdown leading to further declines.

On the 4-hour chart, a series of large bearish candles have broken below the 3800 level, forming a bearish arrangement. At the same time, the daily chart shows a "Three Black Crows" pattern, indicating a clear short-term head formation. The current key support level of 3700 has been tested twice without breaking, suggesting a potential double bottom rebound. In terms of technical indicators, the MACD across all time frames is in a death cross state below the zero line, with the 4-hour histogram continuing to expand; the RSI on the 4-hour chart rebounded after reaching the oversold zone at 26 but remains below the 50 midline, while the 1-hour chart shows a short-term oversold reading at 26.5. The price has fallen below all EMA moving averages (7/30/120), with the current 3730 approaching the daily EMA120 strong support at 3866. Notably, when the price previously broke 4000, there was a massive sell-off of 230,000 ETH, creating a divergence between volume and price, while the current trading volume has shrunk to 26,000 ETH, indicating a weakening of downward momentum, and signs of institutional accumulation are appearing in the historical dense trading area around 3750.

10.17 Ethereum Short-term Reference:

Short position testing at 3880-3930, stop loss 30 points, target below 3800,

Long position testing at 3661-3611, stop loss 30 points, target above 3710,

There may be a delay in the article's release; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to manage take-profit and stop-loss levels properly. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for ways to add: the first ten each day can receive free exit strategy advice.

For more real-time trades, you can follow my public account for online technical learning, exit strategies, etc. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied extensively in the U.S. focusing on analyzing BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are unsure about trading, you are welcome to study and learn together.

Exclusive views, the article may have delays in release, risks are self-borne, manage positions reasonably, and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep pushing. In the depths of time, hold onto understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your present self. We live authentically, but not every data revelation needs to be taken too seriously. Let the past be the past, and let the future come quickly! Take good care of yourself, prepare well, and be ready to set off at any time. Let's go!

—— This article is written by Mr. Coin from the cryptocurrency community, no plagiarism, respect originality!

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