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ETH: Bulls soaring
2022-10-26
1229
Fundamental analysis:
Ethereum maintained the shock around 1467, and the BTC/GBP (sterling) trading volume of Binance and Coinbase declined significantly. Their total market share has plummeted from 80% in the middle of 2021 to about 30% at present. In the week of September 26, Bitfinex almost doubled its market share from 37% to 70%.
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that the low bulls soared rapidly, short-term bullish sentiment entered the market rapidly, and the market bulls emerged and rose one after another. The MACD index was in the middle of the long region, and the RSI index was fluctuating near the 80 equilibrium line of the high overbought area in the long region;
Empty turning point: 1455
Pressing: 1488, 1515
Support: 1430, 1409
Trading strategy: bullish above 1455, target 1488, 1515
Alternative strategy: bearish under 1455, target 1430, 1409
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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