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ETH: Bears move down

2023-05-19
914
Fundamental analysis:

Ethereum maintained a shock around 1792. Pakistani Finance Minister of State Aisha Ghaus Pasha revealed at a meeting of the Senate Finance and Revenue Standing Committee that the State Bank of Pakistan (SBP) and the Ministry of Information Technology have begun working on banning cryptocurrencies. Cryptocurrencies will never be legal in Pakistan change. Pakistan intends to ban online services related to cryptocurrencies.

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



Brief technical analysis:

Looking at the 4-hour chart: After the short-term narrow range shock, the short-term momentum continues to move downward, the market is shrouded in short-term sentiment, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line

Resistance level: 1822 1841

Support: 1769 1749

Trading strategy: bearish below 1803, target 1769 1749
Alternative strategy: call above 1803, target 1822 1841

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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