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ETH: Bears tumble
2023-02-10
1150
Fundamental analysis:
Ethereum maintains a shock around 1565. JPMorgan Chase (JPM) said in a research report that the upgrade of Ethereum Shanghai scheduled for mid-March will increase the pledge rate of the blockchain in the medium term, considering the average of other Proof of Stake (PoS) networks The ratio is roughly four times that, so there's plenty of room to go up from the 14 percent ratio.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term decline may continue, and the overall trend is weak and moving downward. The MACD indicator is in the bearish area and continues to move downward, and the RSI indicator is below the 50 balance line and continues to move downward;
Long-short turning point: 1572
Repression: 1584, 1595
Support: 1554, 1544
Trading strategy: bearish below 1572, target 1554, 1544
Alternative strategy: call above 1572, target 1584, 1595
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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