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:
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