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Ethereum: high range oscillation

2022-07-25
1801
Fundamental analysis:

Ethereum maintained a shock around 1570. Vitalik buterin, the co-founder of Ethereum, recently said that the team was carrying out five long-term stages to enhance the overall function of the network. The long-awaited merger was the first thing on the agenda.




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




Technical analysis:


According to the 4-hour chart, the bull power is at a high level, the wide range shock moves up slowly, and the short-term consolidation is blocked. The bears are waiting for the opportunity to enter, but they are still at a high level, the MACD index is at the consolidation and translation of the bull region, and the RSI index is at the 50 equilibrium online side;


Long short turning point: 1591


Pressing position: 1631, 1668


Support position: 1535, 1500


Trading strategy: 1591 down bearish, target 1535, 1500


Alternative strategies: bullish above 1591, targets 1631, 1668



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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