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Ethereum: high and narrow finishing

2022-07-20
1527
Fundamental analysis:

Ethereum kept shaking around 1557. According to glassnode data, the number of non-zero addresses of Ethereum reached 84155804, a record high.




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




Technical analysis:


According to the 4-hour chart, the bull momentum fluctuated strongly and rose, the high level was short-term narrow consolidation, the MACD index hovered at the high level of the bull region, and the RSI index was under the 80 equilibrium line of the overbought area;


Long short turning point: 1531


Pressing position: 1594, 1642


Support position: 1484, 1437


Trading strategy: 1531 is bullish, with goals 1594 and 1642


Alternative strategy: 1531 down bearish, targets 1484, 1437

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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