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ETH: Consolidating the pullback
2023-05-30
826
Fundamental analysis:
Ethereum remained volatile around 1888. Binance announced that it has resumed TORN deposits on Ethereum and BNBChain, and will move TORN to the innovation zone before May 30, 2023. ForesightNews previously reported that Binance said on May 21 that due to governance attacks on the TornadoCash protocol, Binance would temporarily suspend TORN deposits until further notice.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: High short-term volatility and retracement, but the bullish sentiment in the market remains, the short-term bullish momentum continues to move at a high speed, the MACD indicator is hovering at a high level in the bullish zone, and the RSI indicator is in the bullish zone to maintain consolidation;
Resistance level: 1905 1922
Support: 1861 1842
Trading strategy: Bullish above 1877, target 1905 1922
Alternative strategy: bearish below 1877, target 1861 1842
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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