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ETH: bearish downside

2023-05-25
821
Fundamental analysis:

Ethereum remained oscillating around 1799. UniswapLabs tweeted that the v3 contract, general router and Permit2 are now live on the Sepolia testnet.

Ethereum ETHUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics remain volatile and downward, and the short-term decline may continue. The market as a whole is in a weak trend. The MACD indicator is in a volatile trend and moves down to the lower side of the 0 axis, and the RSI indicator is weaker than the 50 balance line. ;

Resistance level: 1830 1849

Support: 1780 1761

Trading strategy: bearish below 1812, target 1780 1761
Alternative strategy: call above 1812, target 1830 1849

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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