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ETH: high order

2023-02-03
997
Fundamental analysis:

Ethereum remained volatile around 1662. According to data from Dune Analytics, the NFT lending protocol NFTfi completed 4,399 NFT mortgage loans in January, with a total loan amount of 17,936 ETH, both hitting record highs. Additionally, NFTfi had a total of 616 borrowers and 291 lenders in January.

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



Brief technical analysis:

Looking at the 4-hour chart: After the high shocks and pull-ups, it began to sort out, the market’s bullish momentum began to weaken at a high level, the short-term upward trend remained, the MACD indicator was in the bullish zone, and the RSI indicator was hovering at the high level in the bullish zone;

Long-short turning point: 1653

Repression: 1678, 1695
Support: 1636, 1618

Trading strategy: Bullish above 1653, target 1678, 1695
Alternative strategy: bearish below 1653, target 1636, 1618

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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