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Eth: long high volatility

2022-08-08
1506
Fundamental analysis:

Ethereum has been fluctuating around 1660, and consumers' evaluation of NFT has declined, especially among those who have not yet purchased it. Most non owners think NFT is a bad investment, and only 15% think they are a good investment.



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




Technical analysis:


According to the 4-hour chart, the short-term entangled high level remains volatile. Although there is a retreat trend, the overall bullish sentiment of the market still exists. The MACD index is weak around the 0 axis, and the RSI index is in the 50 equilibrium online side;


Long and short turning point: 1646


Pressing position: 1696, 1724


Support position: 1613, 1572


Trading strategy: 1646 bullish, targets 1696 and 1724


Alternative strategy: 1646 down bearish, targets 1613 and 1572


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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