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ETH: Consolidation in a narrow range
2022-11-25
1363
Fundamental analysis:
Ethereum continued to fluctuate around 1191. Ethereum co-founder Vitalik Buterin wrote that EIP-4844 (Proto-Danksharding) is a crucial first step in reducing Layer 2 fees on a large scale, helping to enable a large number of users to directly use the chain application instead of relying on a CeFi intermediary.
Ethereum ETHUSD - 4-hour K-line chart shows:
A brief technical analysis:
Looking at the 4-hour chart: the low-level bulls are slowly entering the market and moving up, the market is in a narrow range as a whole, the MACD indicator is hovering in a weak range on the upper side of the 0 axis, and the RSI indicator is in a narrow range on the 50 balance line;
Long-short turning point: 1178
Suppression: 1222, 1251
Support: 1147, 1118
Trading strategy: bullish above 1178, target 1222, 1251
Alternative strategy: bearish below 1178, target 1147, 1118
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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