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ETH: bearish downside

Fundamental analysis:

Ethereum maintains fluctuations around 1644. Hong Kong ZABank (ZABank) announced that it has become the first settlement bank (settlement bank) of HashKeyExchange, a licensed virtual asset retail exchange in Hong Kong, and has begun to provide legal currency withdrawal and deposit services for investors holding ZABank accounts.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate downward, the short-term decline may continue, the market as a whole continues to move downward, the MACD indicator is in the long zone and fluctuates downwards, hovering near the 0 axis, and the RSI indicator is below the 50 equilibrium line and continues to decline. middle;

Resistance: 1676 1696

Support level: 1623 1606

Trading strategy: Bearish below 1656, target 1623 1606
Alternative strategy: bullish above 1656, target 1676 1696

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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