CM Trade

Download APP to receive bonus

GET

ETH: high order

2023-01-16
552
Fundamental analysis:
Ethereum maintains fluctuations around 1414. Data on the chain shows that the cross-chain protocol Wormhole attacker (5XiqTJQBTZKcGjcbCydZvf9NzhE2R3g7GDx1yKHxs8jd) sold the SOL worth about 2.6 million U.S. dollars to USDC, and there are still 192,651 SOL left at the address. According to SlowMist monitoring, the hacker then bridged about 2.9 million USDC to the new address of Ethereum, and the initial Gas fee came from the previously marked wallet address (WormholeNetworkExploiter).

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



Brief technical analysis:

Looking at the 4-hour chart: After the high short-term shocks moved up, they began to sort out. The overall bullish sentiment in the market remains, and there are signs of continuing to hover at high levels in the short term.
Long-short turning point: 1408

Repression: 1429, 1442
Support: 1392, 1377

Trading strategy: Bullish above 1408, target 1429, 1442
Alternative strategy: bearish below 1408, target 1392, 1377

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More