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ETH: High level sorting

2022-10-28
1222
Fundamental analysis:

Ethereum maintained the shock around 1520. On Thursday, British legislators reached consensus on new rules to stabilize the currency and unanimously voted for new encryption measures. The government promised to negotiate on further cryptocurrency regulations and digital pounds in the coming weeks.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum is strong and rising, and the high level is settled in a short term. The market bears are waiting for the opportunity to enter the market. The MACD index is at the high level in the bulls' region, and the RSI index is at the high level in the bulls' region and moves down;


Empty turning point: 1533


Pressing: 1560, 1587


Support: 1493, 1464


Trading strategy: bearish under 1533, target 1493, 1464


Alternative strategy: bullish above 1533, target 1560, 1587

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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