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ETH: High level vibration

Fundamental analysis:

Ethereum maintained a shock near 1558. According to Whale Alert data, Tether, the publisher of Stablecoin, issued an additional 1 billion USDTs in the wave field at 19:54 on October 31, Beijing time. This is an authorized but not issued transaction, which means that this additional issuance will be used for the next issuance request and online interaction.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

The 4-hour chart shows that the bulls' momentum has kept rising in a ladder like manner, the short-term high has retreated in the face of obstacles, the market bears have signs of waiting for opportunities to enter the market, the MACD index is in the bulls' area for consolidation, and the RSI index is in the 50 balanced online side for wandering;

Empty turning point: 1564

Pressing: 1594, 1620

Support: 1529, 1502

Trading strategy: 1564 lower bearish, target 1529, 1502

Alternative strategy: bullish above 1564, target 1594, 1620

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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