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Coin expert: Analysis reference of the latest market trends of Ethereum (ETH) on August 23, 2024.

Ethereum has deviated from the trend of Bitcoin. If it does not catch up by the end of the month, its market share will decrease. Currently, most of the chips are flowing into Bitcoin. From the 16th to today, the price range has only been less than 200 points. As of the time of writing, the current price of Ethereum is 2640, with a profit margin of only 110 points, which is far below expectations. The market has been trading sideways within this range for half a month.

Currently, the support levels for Ethereum are in the range of 2600 and 2630. As of the time of writing, the current price of Ethereum is 2635. The daily candlestick chart is showing bullish momentum. At the moment, we can only grit our teeth and continue to hold. The four-hour short-term market is contracting, and the key resistance level is 2675. We are currently focused on whether the first support level can be broken. If it is broken, the bulls can continue to hold; otherwise, we may have to exit.

Short-term strategy reference: Holding long positions since 16th at 2530, also holding long positions since entering at 2600 on the 19th and averaging down at 2550. The stop loss is set at 2500. The target is to see if the resistance levels at 2675 to 2695 can be effectively broken. If not, we will exit. If broken, continue to hold with a target of 2850.

Ultra-short-term strategy reference:

Sell short in batches from 2820 to 2835 on the upside, with a stop loss of 40 points, targeting 2700 to 2600 for exit.

Sell short at 2675 on the upside, with a stop loss of 20 points and a take profit of 2600 points (effective until stop loss for exit).

Please refer to the real-time data in the order book for specific operations. For more information, you can consult the author for news. The publication of the article has a delay, so it is recommended for reference only. Please be responsible for your own risks.

This article is exclusively provided by the Coin Circle Academician and represents the exclusive opinion of the Academician. It has in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of article push, the above opinions and suggestions are not real-time, and are for reference only. Please be responsible for your own risks. Please indicate the source when reproducing, and be reasonable in controlling your position. Avoid heavy positions or full positions. The Academician also hopes that all investors understand that the market is always right. If you make a mistake, summarize your own problems and don't let the expected 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 calm. It's never too late to take action after waiting for the trend to become clear. The success of tomorrow comes from today's choices. Heaven rewards hard work, earth rewards kindness, human rewards sincerity, business rewards trust, industry rewards excellence, and art rewards the heart. Gains and losses come unnoticed. Develop the habit of strictly setting stop-loss and take-profit for each order. Coin Circle Academician wishes you a pleasant investment!