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ETH: pull back in case of resistance
2022-10-17
1354
Fundamental analysis:
Ethereum maintained the shock near 1294. According to DefiLlama data, the total locked position (TVL) of DeFi agreement reached 53.4 billion dollars, a decline of 0.02% in 24 hours. The top five TVLs were MakerDAO ($7.72 billion), Lido ($5.88 billion), Curve ($5.84 billion), AAVE ($5.21 billion) and Uniswap ($4.78 billion).
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that after the low position rapidly rose, the high position retreated when it was blocked, the short-term bull lacked momentum, the short position waited for an opportunity to enter the market and moved down, the market short position sentiment remained, the MACD index was weak around the 0 axis, and the RSI index was narrow near the 50 equilibrium line;
Empty turning point: 1297
Pressing: 1311, 1325
Support: 1278, 1264
Trading strategy: bearish under 1297, target 1278, 1264
Alternative strategy: bullish above 1297, target 1311, 1325
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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