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ETH: Consolidation moves down
2023-04-30
806
Fundamental analysis:
Ethereum remained volatile around 1889. Margrethe Vestager, the executive vice president of the European Commission and director of antitrust affairs known as the "EU Digital Czar", said on April 30 that the EU may reach a political agreement this year, which will be the world's first major AI legislation paves the way. Vestager suggested that the use of AI tools should be legislated.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term maintenance and consolidation, the market’s bearish sentiment has signs of waiting for opportunities to enter the market, the MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Resistance level: 1924 1952
Support: 1861 1838
Trading strategy: bearish below 1900, target 1861 1838
Alternative strategy: call above 1900, target 1924 1952
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