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ETH: bulls move up

2023-05-28
796
Fundamental analysis:

Ethereum maintained a shock around 1827. According to Lookonchain monitoring, a giant whale that had been dormant for 8 years transferred 8,000 ETH (approximately US$14.7 million) to a new address 14 hours ago. The giant whale was a participant in the Ethereum ICO and received 8,000 ETH during the Ethereum Genesis.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls keeps oscillating and moving up, the short-term bullish sentiment is shrouded, the bulls in the market continue to climb, the MACD indicator keeps oscillating and moves up to the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;

Resistance level: 1842 1857

Support: 1806 1792

Trading strategy: Bullish above 1819, target 1842 1857
Alternative strategy: bearish below 1819, target 1806 1792

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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