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ETH: Short position moves down continuously
2022-10-11
1452
Fundamental analysis:
Ethereum maintained the shock near 1301, and Primex Finance, the cross chain derivative agreement, announced the launch of Primex Beta on Ethereum Goerli test website, allowing users to experience its cross DEX spot margin trading.
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that the short selling momentum maintains a narrow range and slowly declines. The short selling sentiment in the market is good, and the short-term decline is said to be sustained. The MACD indicator is at the bottom of the 0 axis and the RSI indicator is at the bottom of the 50 equilibrium line;
Empty turning point: 1309
Pressing: 1324, 1340
Support: 1286, 1272
Trading strategy: bearish under 1309, target 1286, 1272
Alternative strategy: bullish above 1309, target 1324, 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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