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ETH: High level wandering

2022-11-04
558
Fundamental analysis:

Ethereum maintained the shock near 1535. The Dubai Financial Services Authority (DFSA) recently announced that its crypto token system has come into effect in the Dubai International Financial Center (DIFC) Special Economic Zone, with a transition period of six months.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that: after the high-level weak consolidation retreated, it began to hover, and the short-term decline weakened, but the trend remained. The MACD index was weak around the 0 axis, and the RSI index was weak around the 50 equilibrium line;


Multi empty turning point: 1543


Pressing: 1571, 1600


Support: 1507, 1475


Trading strategy: 1543 lower bearish, target 1507, 1475


Alternative strategy: bullish above 1543, target 1571, 1600

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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