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Cryptocurrency Academician: Ethereum (ETH) Latest Market Analysis Reference for April 18, 2024
The market fluctuation of Ethereum is still not as ideal as expected. Yesterday, Bitcoin reached as high as 64500, but Ethereum only reached around 3130 before falling back, causing those who positioned long in the 3000-3050 range to be stopped out when the market fell below 2960 due to the impact of the U.S. market's plunge. Yesterday's entry point became today's resistance level. After the main force washes the market, you can catch a small wave in the consolidation range, and you can catch two waves of profit-taking in the 3020 and 2960 ranges. Don't be greedy.
Looking at the current Ethereum price before the deadline, it is around 2990, with the high position at the trend indicator EMA120. Based on the market in the past few days, this support level is not strong and will further consolidate. The expected range of consolidation will be around 2990 plus or minus 40 points. KDJ is diverging downwards, MACD volume is decreasing, and DIF has a decreasing volume indicator. There are now large and small indicators. You can position before the formation of the golden cross at the closing position before the golden cross appears. Don't rush, wait for the indicators to appear. The lower Bollinger Band plunged, and the upper band's horizontal range of long and short positions increased. Pay attention to setting good stop-loss and take-profit to avoid risks.
The four-hour ultra-short-term trend indicator EMA is currently alternating downwards, and the K-line is consolidating below the EMA. KDJ formed a golden cross yesterday, but it was pulled back and alternated downwards near 3130, and MACD showed a divergence at the bottom, with DIF and DEA converging between volume and decreasing volume. The Bollinger Band is within the downward channel, with the lower band support at 2930 and the middle band support at 3080. Judging from the comprehensive trend, today's market is likely to be in a consolidation phase.
Specific reference suggestions are as follows:
- Long entry points: 2930 and 2950 range, target range: 2980 and 3030, stop loss: 2900
- Short entry points: 3030 and 3040 range, do not break the short, target range: 3000 and 2970, stop loss: 3050
The ultra-short-term strategy should not be used too frequently. If the resistance near 3050 is broken, you can continue to look towards 3110. Therefore, whether you are going long or short, be sure to set good stop-loss and take-profit levels and not be rigid with the market.
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. The author of this article is exclusively provided by the Cryptocurrency Academician and represents the exclusive views of the academician. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. Reprinting requires attribution. Please control 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 not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The way of heaven rewards hard work, the way of earth rewards kindness, the way of people rewards sincerity, the way of business rewards trust, the way of industry rewards precision, and the way of 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 Cryptocurrency Academician wishes you a pleasant investment journey!
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