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ETH: Bears move down

2023-05-12
784
Fundamental analysis:

Ethereum remained volatile around 1791. The Nordic Center, the Bank for International Settlements Innovation Center, released a comprehensive manual today to explore key aspects of how central bank digital currencies can be used for offline payments. Written in collaboration with ConsultHyperion, the handbook addresses these issues, along with goals for resilience, inclusion, cash similarity, accessibility and other desired attributes.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains oscillating and moving down, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bearish area and the shock is slowly moving down, and the RSI indicator is in the bearish area to maintain consolidation;

Resistance: 1820 1840

Support: 1774 1756

Trading strategy: bearish below 1801, target 1774 1756
Alternative strategy: call above 1801, target 1820 1840

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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