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Eth: short power weak downward
2022-08-05
1521
Fundamental analysis:
Ethereum maintained a shock around 1585. Prada, a luxury brand, announced the launch of a new timecapsule NFT series. The shirts launched this time are made of Prada's various recycled fabrics, including Frankenstein inspired prints created by artist Jeanne detallante, and the NFT of the shirt itself.
Ethereum ethusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the short-term narrow consolidation of the market shifted and moved slowly downward, the short momentum showed signs of waiting for the opportunity to enter, the MACD index was weak around the 0 axis, and the RSI index was in the narrow consolidation below the 50 equilibrium line;
Long short turning point: 1615
Pressing position: 1667, 1724
Support position: 1537, 1491
Trading strategy: bearish below 1615, targets 1537, 1491
Alternative strategy: bullish above 1615, targets 1667, 1724
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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