ETH: bulls move up

Fundamental analysis:

Ethereum remained volatile around 1282. Binance announced the acquisition of a 100% stake in Sakura Exchange BitCoin (SEBC), a Japanese encrypted asset trading platform service provider, officially entering the Japanese market and accepting the supervision of the Japan Financial Services Agency (JFSA). After the acquisition, Binance will provide compliance services in Japan through SEBC to promote the establishment of a responsible environment for the development of encrypted assets on a global scale.

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

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues to fluctuate and rise, and the short-term bullish trend is good. The market as a whole is in a bullish upward trend. The MACD indicator is finishing on the upper side of the 0 axis, and the RSI indicator is hovering at a high level on the upper side of the 50 balance line;

Long-short turning point: 1276

Repression: 1301, 1317

Support: 1257, 1238

Trading strategy: Bullish above 1276, target 1301, 1317

Alternative strategy: bearish below 1276, target 1257, 1238