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ETH: bearish downside
2023-03-06
900
Fundamental analysis:
Ethereum remained volatile around 1559, and the total locked position on Ethereum Layer 2 was $6.19 billion, down 0.90% in the past 7 days. Among them, Arbitrum One, the expansion solution with the highest locked amount, is about 3.36 billion USD, accounting for 54.29%, followed by Optimism, with 1.877 billion USD locked, accounting for 30.32%.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: Short-term consolidation after a rapid decline in short-term momentum, the market as a whole is hovering, the MACD indicator is finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance: 1589 1609
Support level: 1541 1526
Trading strategy: bearish below 1568, target 1589 1609
Alternative strategy: call above 1568, target 1541 1526
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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