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ETH: High level oscillation uplink

2022-10-31
1267
Fundamental analysis:

Ethereum maintained a shock near 1551. According to Dune Analytics data, the total number of contracts created on the chain of the Ethereum Layer2 expansion solution Arbitrum has exceeded 200000, which was 209224 at the time of writing. The total scale of ERC20 digital assets locked on the chain has reached 3.329 billion dollars.




Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that after the bulls rose in a shock, the high level retreated for a short time and rose again. The momentum of action on the bulls was good. The MACD index was maintained in the bulls' area, and the RSI index remained in the 50 balanced online weak side;


Multi empty turning point: 1541


Pressing: 1576, 1600


Support: 1516, 1493


Trading strategy: bullish above 1541, target 1576, 1600


Alternative strategy: 1541 bearish, target 1516, 1493

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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