CM Trade

Download APP to receive bonus

GET

Eth: long power continues to climb

2022-07-29
1650
Fundamental analysis:

Ethereum maintained a shock around 1736. Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that the agency was cooperating with the cryptocurrency exchange to regulate them like a stock exchange.




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




Technical analysis:


According to the 4-hour chart, the bull momentum fluctuated strongly and rose, and continued to rise after breaking the previous high. There was no sign of stopping the short-term bull pull-up trend. The MACD index maintained its consolidation and slowly moved up in the bull region, and the RSI index was in the high consolidation and translation of the bull region;


Long and short turning point: 1699


Pressing position: 1782, 1839


Support position: 1647, 1590


Trading strategy: bullish above 1699, targets 1782, 1839


Alternative strategy: bearish below 1699, target 1647, 1590

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