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ETH: Consolidation within a narrow range

Fundamental analysis:
Ethereum maintains a shock around 1247. The national key research and development plan "blockchain" key project "blockchain-based credible carbon trading and carbon neutral management demonstration application" participated by Shanghai Environmental Exchange and led by Yunnan Power Grid Co., Ltd. "The project was approved by the Ministry of Industry and Information Technology. This project is the first national key research and development plan project for the application of blockchain carbon trading that has been successfully approved.

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

Brief technical analysis:
Looking at the 4-hour chart: the long-term dynamics of the bulls began to sort out after the short-term shocks moved up, the upward momentum of the bulls in the market weakened, and they began to hover as a whole.
Long-short turning point: 1241
Suppression: 1260, 1273
Support: 1229, 1217
Trading strategy: Bullish above 1241, target 1260, 1273
Alternative strategy: bearish below 1241, target 1229, 1217

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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