ETH: high down

Ethereum maintains a shock around 1703. According to the lawsuit document issued by the US Commodity Futures Trading Commission (CFTC), the document mentions that digital assets such as Bitcoin, Ethereum and Litecoin are recognized as commodities, not securities, but also mentions certain Digital assets are defined as virtual currencies that can be used as a digital representation of value and can be used as a medium of exchange, unit of account or stored value tool, but these assets can also be derivatives of commodities or other legal tender or financial instruments.

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

The 4-hour chart: the high-level short-term dynamics maintained a narrow range and slowly moved downward, the market’s short-sell sentiment began to emerge slowly and gradually moved downward, the MACD index remained oscillating and moved down to the lower side of the 0 axis, and the RSI index was in a weak order below the 50 balance line ;

Resistance level: 1761 1796

Support levels: 1666 1633

Trading strategy: bearish below 1720, target 1666 1633

Alternative strategy: call above 1720, target 1761 1796