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Ethereum: high shock down
2022-07-27
1581
Fundamental analysis:
Ethereum remained volatile around 1400. A recent report released by grand view research predicted that the value of NFT market would reach $200billion by 2030, partly due to the growing application demand behind it.
Ethereum ethusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the bearish power continues to decline, the trend line continues to fluctuate downward, and there is no sign of stopping in the short-term decline. The MACD index is weak at the lower side of the 0 axis, and the RSI index is in the narrow consolidation below the 50 equilibrium line;
Long short turning point: 1424
Pressing position: 1470, 1522
Support position: 1357, 1308
Trading strategy: 1424 bearish, goals 1357, 1308
Alternative strategy: bullish above 1424, target 1470, 1522
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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