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ETH: Bears move down
2023-02-27
1058
Fundamental analysis:
Ethereum maintains a shock around 1605. According to the latest data from Dune Analytics, the total value of Optimism cross-chain bridge storage, the second-layer expansion solution of Ethereum, has exceeded 500,000 ETH, reaching 500,328 ETH so far, equivalent to about 800 million U.S. dollars at current prices , the number of users participating in bridge transactions has just exceeded 300,000, and currently stands at 306,294.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, the market's short-term sentiment has emerged, the short-term decline has not stopped, the market will continue to move down in the short-term, the MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line.
Long-short turning point: 1614
Repression: 1631, 1647
Support: 1590, 1574
Trading strategy: bearish below 1614, target 1590, 1574
Alternative strategy: call above 1614, target 1631, 1647
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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