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ETH: Multi header sorting up

2022-10-18
1409
Fundamental analysis:

Ethereum maintained the shock near 1324. According to the data of CoinShares Weekly Report, the total net inflow of digital asset investment products last week was 12.2 million dollars. The total inflow of Bitcoin is 8.8 million dollars, which has maintained capital inflow for five consecutive weeks. The total inflow of short bitcoin investment products was $6.7 million, and the total outflow of Ethereum was $3.9 million.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the bull momentum keeps moving up in a narrow range, short-term bull sentiment starts to emerge slowly, market bullish sentiment gradually heats up, MACD indicators hover above the 0 axis, and RSI indicators are in the 50 balanced online side of weak consolidation;


Empty turning point: 1320


Pressing: 1336, 1349


Support: 1307, 1292


Trading strategy: bullish above 1320, target 1336, 1349


Alternative strategy: bearish at 1320, target 1307, 1292

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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