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ETH: Consolidation moves down

2022-12-29
1042
Fundamental analysis:
Ethereum remained volatile around 1180. Digital asset fund Alpha Sigma Capital announced the appointment of Patrick Martin as a European partner. He is said to be an experienced investor in blockchain, digital assets and Web3. His family office has invested in the past five years. More than 40 companies.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics maintain a narrow range and slowly move down, the market’s short-term sentiment emerges, and the short-term decline may continue. The MACD indicator hovers weakly below the 0 axis, and the RSI indicator is weakly organized below the 50 balance line;
Long-short turning point: 1185
Repression: 1197, 1209
Support: 1166, 1156
Trading strategy: bearish below 1185, target 1166, 1156
Alternative strategy: call above 1185, target 1197, 1209

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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