Cryptocurrency trading is a long-term plan; it is not about achieving results overnight, so one should not be overly anxious. Even if there are losses in the short term, 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 improve the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends should learn while trading, summarizing both profits and losses in a timely manner to deepen their understanding of risks and develop the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

8.24 Ethereum (ETH) Market Analysis Reference

After reaching a new high during the day, the price of Ethereum did not continue to rise, and there has been a slight correction recently. However, the support below has not been broken, and the current price is around 4750.

From a short-term perspective, a long lower shadow appeared on the 4-hour chart, followed by consecutive bullish candles, indicating strong support around 4700. On the daily chart, a long bullish candle on August 22 broke the previous high, forming a V-shaped reversal structure. On the 1-hour chart, a short-term consolidation platform has formed around 4750. MACD: The 4-hour DIF and DEA lines have crossed above the zero line, and the daily chart shows a golden cross with continued divergence. EMA: The price is stable above EMA30 (4496), and EMA7 (4708) maintains a bullish arrangement with EMA30. The short-term trend is currently still in a consolidation phase after a significant rise. Overall, as long as the price does not drop below 4550, the outlook remains bullish. In the short term, watch for resistance at 4800, followed by 4860, with support at around 4650.

8.24 Ethereum Short-term Reference:

Short position testing at 4850-4800, stop loss at 30 points, target below 4750.

Long position testing at 4680-4621, stop loss at 30 points, target above 4720.

There may be delays 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 and online technical learning, follow the mentor's public account (Mr. Coin) for access. The first ten daily followers can receive free strategies for resolving positions.

For more real-time trades, you can follow my public account for online market technical learning and position resolution. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied extensively in the U.S. to primarily analyze and guide 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 opinions, with delays in article release, risks are self-borne. Manage your positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, moving forward together. 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 diligently, 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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