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Scholar in the cryptocurrency circle: November 17, 2024, Ethereum (ETH) latest market analysis reference.

The current price of Ethereum is 3180. It is now 3 AM Beijing time. Many in the market might think that Ethereum will catch up in this wave of bull market. Has no one noticed that Bitcoin has continuously broken historical highs, while Ethereum is just passively stretching without any intention to catch up? Wake up! Ethereum is not suitable for long-term trend trading; it can only be traded in the medium and short term, especially since this wave of stretching has not broken the trend line. It just hit the trend resistance at 3220 and was pushed down. A hundred points indicate that the resistance level is effective. How will the market move today?

Currently, the daily K-line has a high of 3220 and a low of 3070. The EMA15 trend fast line support is at 2980, which has not been retested, indicating that it will need to pull back again for another retest. The top resistance level is getting lower, while the bottom support is continuously rising. The market is clearly starting to contract, and with the MACD volume decreasing, the divergence is becoming more apparent. The Bollinger Bands are expanding, with the upper band resistance at 3470 and the middle band support still at 2830. The KDJ is showing a downward dead cross trend, continuing the bearish trend. Currently, the technical indicators are mixed.

Looking at the four-hour K-line, it has just completed a head and shoulders pattern. After that, it was blocked by the EMA60 trend support, effectively pulling back to impact the major upward trend line at 3200. At this point, we can focus on not breaking 3200 to consider short positions, targeting the previous low EMA60 trend support at 3050. The MACD is increasing in volume and stretching upward. The DIF and DEA have just broken below the 0 axis and are starting to form a golden cross to push upward toward the 0 axis. The upper Bollinger Band resistance is at 3270, and the lower band support is at 2990. The strategy is to focus on key resistance and support points and wait for direction confirmation before entering.

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

For the upper range of 3200 to 3250, short positions with a stop-loss at 3300 to 3350, 50 points stop-loss, targeting 3100 to 3050, and if broken, look at 3000 to 2950.

For the lower range of 2950 to 3000, long positions with a stop-loss at 2900 to 2850, 50 points stop-loss, targeting 3100 to 3150, and if broken, look at 3200 to 3250.

Specific operations should be based on real-time market data. For more information, you can consult the author. The article may have a delay in publication, so it is suggested for reference only, and risks are to be borne by the reader.

This article is exclusively contributed by the scholar in the cryptocurrency circle 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 to be 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. Don't 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 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 comes 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 happen unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The scholar in the cryptocurrency circle wishes you happy investing!

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