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ETH: bear moves down slowly
2022-11-17
1357
Fundamental analysis:
Ethereum maintained the shock near 1203. The global innovation platform Plug and Play, together with its founding partners Visa, AllianceBlock, INX Digital Company, IGT and Franklin Templeton, announced the launch of a new cryptocurrency and digital asset plan in Silicon Valley. The program aims to connect international startups with founding partners to test startups' technologies and promote the future of cryptocurrencies and digital assets as world-class leaders.
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that the low narrow range shock is slowly declining, and the market bearish sentiment starts to wait for an opportunity to enter the market, and the short-term decline may continue. The MACD indicator is weak and hovering under the 0 axis, and the RSI indicator is narrow and collated under the 50 equilibrium line;
Empty turning point: 1231
Pressing: 1270, 1315
Support: 1167, 1129
Trading strategy: bearish under 1231, target 1167, 1129
Alternative strategy: bullish above 1231, target 1270, 1315
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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