Crypto analyst: Ethereum is actually a better store of value than gold

Fundamental analysis:

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With Ethereum oscillating around 2,891, cryptocurrency analyst Benjamin Cowen said he is studying Ethereum (ETH) to determine if the leading smart contract platform has what it takes to be a store of value. While many investors see gold as a store of value, it has remained virtually unchanged over the past decade, he said in a new interview. The cryptocurrency analyst believes that Ethereum is actually a better store of value than gold, as ETH’s value has risen nearly 50 times over the past 12 months.

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Ethereum ETH/USDT - 4-hour candlestick chart shows:

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Technical comments: The bearish momentum continues the middle and lower rails of the Bollinger Bands indicator channel and continues to oscillate downward in a stepped manner. The short-term downward trend is in good shape. The Bollinger Bands indicator shows signs of closing after opening slowly. The MACD indicator is in a weak downward trend below the 0 axis. , the RSI indicator is in a narrow range under the 50 equilibrium line;

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Long-short turning point: 2950

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Suppression position: 3046, 3138

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Support: 2793, 2704

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Trading strategy: bearish below 2950, ​​target 2793, 2704

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Alternative strategy: bullish above 2950, ​​target 3046, 3138

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The above analysis is a personal opinion and is for reference only.