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ETH: downlink narrow range sorting

Fundamental analysis:

Ethereum has maintained a shock near 1590. At present, the power demand of Ethereum is equivalent to that of Portugal. The Ethereum merger and upgrade is expected to take place tomorrow morning. Dmitry Buterin, the father of Vitalik Buterin (V God), said that the Ethereum merger would become a "huge milestone" in how to deal with "its huge energy waste" in the encryption field.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

The 4-hour chart shows that the power of high short positions has fallen rapidly, maintaining narrow range consolidation and translation in the short term, and the market short position sentiment remains the same. The MACD indicator hovers in the weak position under the 0 axis, and the RSI indicator is in the narrow range consolidation under the 50 equilibrium line;

Empty turning point: 1599

Pressing position: 1627, 1657

Support position: 1561, 1536

Trading strategy: 1599 bearish, target 1561, 1536

Alternative strategy: bullish above 1599, target 1627, 1657

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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