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ETH: Bulls pull up

Fundamental analysis:

Ethereum maintains a shock around 1723. According to a research report by ArkInvest research assistant David Puell, although Bitcoin is well-known in El Salvador, its usage rate is very low, and its usage rate lags behind that of Argentina.

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

Brief technical analysis:

Looking at the 4-hour chart: the bulls are driving up strongly, the market is shrouded in bullish sentiment, the short-term bulls continue to climb upwards, the MACD indicator is moving up in the bullish zone, and the RSI indicator is in the bullish zone and fluctuates at a high level;

Resistance: 1744 1762

Support levels: 1692 1671

Trading strategy: Bullish above 1713, target 1744 1762
Alternative strategy: bearish below 1713, target 1692 1671

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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