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ETH: Bulls climb

Fundamental analysis:

Ethereum remained volatile around 1666 and continued to ferment. The spokesperson of the Hong Kong Monetary Authority stated that the Monetary Authority has been closely monitoring the development of SVB. According to the Bureau’s understanding, Hong Kong banks have very little risk exposure to SVB, which does not pose a risk to the stability of the Hong Kong banking system. .

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

Brief technical analysis:

Looking at the 4-hour chart: the bulls’ momentum fluctuates at a high level, the market is shrouded in bullish sentiment, and there is a trend of continuing to move upwards in the short term. The MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone to maintain consolidation;

Resistance: 1692 1711

Support level: 1632 1612

Trading strategy: bearish below 1655, target 1632 1612
Alternative strategy: call above 1655, target 1692 1711

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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