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Eth: bears continue to fall

2022-08-29
1295
Fundamental analysis:

Ethereum maintains a shock around 1553. Binance has launched a zero Commission transaction of eth / busd spot trading pair on 2022-08-26 00:00 (UTC), which is valid from 2022-08-26 00:00 (UTC) to 2022-09-26 00:00 (UTC). All users will enjoy 0 pending order handling fee of eth / busd spot trading pair.




Ethereum ethusd - 4-hour K-line diagram shows:




Technical analysis:


According to the 4-hour chart, the short-term momentum continues to fluctuate downward and is about to fall below the previous low. There is no sign of stopping the short-term decline. MACD is currently hovering at the lower side of the 0 axis, and the RSI index is at the lower side of the 50 equilibrium line;


Long and short turning point: 1568


Pressing position: 1600, 1638


Support position: 1520, 1496


Trading strategy: 1568 lower bearish, target 1520, 1496


Alternative strategy: bullish above 1568, targets 1600 and 1638

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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