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Eth: short positions fell sharply

2022-08-22
1584
Fundamental analysis:

Ethereum maintained a shock around 1694. According to Tim beiko, the core developer of Ethereum, on social media, the Ethereum main network has completed the 11th shadow fork-11, which is also the best shadow fork so far. At present, 34 / 35 nodes have successfully passed the merge, while 1 / 35 have not yet been synchronized.




Ethereum ethusd - 4-hour K-line diagram shows:




Technical analysis:


According to the 4-hour chart, the short-term downward trend is not stopped, the short-term downward trend is good, the MACD indicator is at the lower side of the 0 axis and continues to move downward, and the RSI indicator is at the short area and maintains the consolidation and translation;


Long and short turning point: 1709


Pressing position: 1746, 1783


Support position: 1655, 1621


Trading strategy: bearish below 1709, targets 1655 and 1621


Alternative strategy: bullish above 1709, targets 1746 and 1783

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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