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ETH: high short position moves down

2022-10-19
1355
Fundamental analysis:

Ethereum maintained a shock near 1308. There were 25 new versions of THE Protocol on Ethereum and BNBChain, of which 6 were suspected to be "Pixiu Plate". The contract address starting with 0x0cbA6 will send 100 million THEs to the God V address, and the contract address starting with 0x716Fb will send 6.4 million THEs to the God V address. Paidun is used to remind users of risks.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the power of high short positions fluctuates downward, the market short positions begin to slowly pour in, the short-term decline continues to move downward, the MACD indicator hovers above the 0 axis, and the RSI indicator is in the weak consolidation near the 50 equilibrium line;


Empty turning point: 1312


Pressing: 1327, 1340


Support: 1292, 1280


Trading strategy: 1312 lower bearish, target 1292, 1280


Alternative strategy: bullish above 1312, target 1327, 1340

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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