ETH: bulls move up

Fundamental analysis:

Ethereum maintains a shock around 1247, and the work conference of the People's Bank of China will be held in 2023. The meeting pointed out that we will continue to promote financial legislation and do a good job in financial statistics and research. Continuously improve the quality and efficiency of payment supervision. Deepen the application and management of financial technology. Strengthen RMB cash management. Promote the digital renminbi pilot program in an orderly manner.

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

Brief technical analysis:

Looking at the 4-hour chart: the bulls against the strong pull up after finishing, the market's bulls are driven up, short-term bullish sentiment emerges, the MACD indicator is in the bullish zone, and the RSI indicator is hovering at the high level in the bullish zone;

Long-short turning point: 1241

Suppression: 1260, 1273

Support: 1229, 1217

Trading strategy: Bullish above 1241, target 1260, 1273

Alternative strategy: bearish below 1241, target 1229, 1217