Crypto Academic: On 10.24, when the entire market is predicting Ethereum (ETH) will break down, it's often the eve of a trend reversal.
As I write this analysis, it's very quiet outside the window, but the candlestick chart on the screen is like a roller coaster. Sometimes I wonder, what are we really chasing while staring at these fluctuating numbers every day? Is it the fantasy of financial freedom, or the thrill of battling the markets? I chased Ethereum from 1500 up to 2800, then watched it drop back to 2400; countless people's fates rise and fall on these candlesticks. All I can do is honestly write down what I see and think, and share it with you. If you profit, I'm happy for you; if you lose, I'll review the trades with you. The journey of trading is long, so don't rush—take it slowly. That’s all for today; see you on the charts tomorrow.
The daily candlestick stands above both the EMA90 and EMA120, but is being suppressed by the EMA15, EMA30, and EMA60, indicating the medium-term bullish trend remains, but there's considerable short-term resistance. The MACD green bar is still expanding, meaning the bearish momentum hasn't been fully released. The midline of the Bollinger Bands at 2493 is key resistance, while the lower band at 2288 acts as strong support. The TD Sequential has just shown an upward count of 1, implying a possible daily-level rebound, but whether it materializes depends on ETH holding above the 2450 level.
The 4-hour candlestick is stuck just below the Bollinger midline at 2431; EMA15 is at 2414, EMA30 at 2421, and EMA60 at 2441, all pressing down overhead—classic bearish alignment. Although the MACD green bar remains, it's clearly narrowing, suggesting that 4-hour bearish momentum is fading. Notably, the TD Sequential has just shown a downward count of 1, which often signals a possible last leg down in the short term, though the movement range is limited. The previous low at 2313 marks the bottom of this correction. The recent sideways movement near 2400 is essentially digesting profits from the rebound between 2313 and 2551. The lower Bollinger band at 2362 is the short-term support; if it breaks, expect a retest of 2313. If that retest holds, consider adding to long positions.
Short-term reference:
Long positions: If price rebounds from 2370 to 2330 and meets resistance, set a 30-point stop loss; target 2430 to 2520.
Short positions: If price stalls from 2460 to 2500, set a 30-point stop loss; target 2400 to 2370.
Actual trades should be based on real-time order book data. For more information, feel free to consult the author directly. Articles are published with a time delay and should be used for reference only—trading carries risks.
