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ETH: High move up

2023-01-17
1208
Fundamental analysis:

Ethereum remained oscillating around 1573, and NuBank, an encryption-friendly digital bank in Brazil, announced that it would list Polygon (MATIC) and Uniswap (UNI) on its app. It is reported that NuBank’s shareholders include Warren Buffett. The bank began to provide cryptocurrency support in mid-2022 and announced the use of its balance sheet to buy BTC. It currently has more than 65 million users.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high bulls keeps oscillating and moving up, and the short-term bullish sentiment is shrouded. The bulls in the market continue to pull up. ;

Long-short turning point: 1562

Repression: 1591, 1611
Support: 1541, 1516

Trading strategy: Bullish above 1562, target 1591, 1611
Alternative strategy: bearish below 1562, target 1541, 1516

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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