Fundamental analysis:
Ethereum remained volatile around 1089. According to the coinshares report, last week, the net outflow of digital asset investment products was $39million, including the inflow of bitcoin investment products of $28.2 million and the net outflow of Ethereum investment products of $69.9 million. Ethereum investment products experienced capital outflow for 11 consecutive weeks.
Ethereum ethusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart: it has been maintained in the middle and lower track of the Bollinger belt index channel for a long time, with narrow weak consolidation and translation. The short-term short power continues to move downward. The Bollinger belt index continues to show a closing trend. The MACD index is at the low end of the short area, maintaining a weak upward movement, and the RSI index is at the lower side of the 50 equilibrium line;
Long short turning point: 1116
Pressing position: 1183, 1241
Support position: 1010, 955
Trading strategy: down 1116, target 1010, 955
Alternative strategy: bullish above 1116, target 1183, 1241