CM Trade

Download APP to receive bonus

GET

Eth: high shock pullback

2022-08-10
1510
Fundamental analysis:

Ethereum maintained a shock around 1690. Circle said that it would only support the Ethereum POS chain after the merger of Ethereum. It is expected that the chain function or full-automatic issuance and redemption service of usdc will not be interrupted. Earlier, Paolo ardoino, chief technology officer of tether, said that the support for eth2 would be seamless, and tether planned to support eth2.



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




Technical analysis:


According to the 4-hour chart, the power of high-level short positions maintains a downward trend, and the downward movement trend of short positions may continue. The MACD index hovers on the upper side of the 0 axis, and the RSI index is weak near the 50 equilibrium line;


Long and short turning point: 1707


Pressing position: 1736, 1775


Support position: 1656, 1623


Trading strategy: bearish below 1707, targets 1656 and 1623


Alternative strategy: bullish above 1707, targets 1736 and 1775

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More