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ETH: high position down

2022-11-03
569
Fundamental analysis:

Ethereum maintained the shock around 1505. Kathleen Breitman, CEO of Tezos, a blockchain company, said that with the increase of interest rates, the ongoing winter of cryptocurrencies "will only get worse".


Ethereum ETHUSD - 4-hour K line diagram shows:



Technical analysis:


The 4-hour chart shows that the momentum of high short positions has remained volatile and slowly declined. The short positions in the market have begun to emerge, and the short-term decline may continue. The MACD indicators are in the long positions and remain collated and moved downward, while the RSI indicators are in the weak positions below the 50 equilibrium line;


Empty turning point: 1519


Pressing: 1550, 1579


Support: 1475, 1444


Trading strategy: bearish under 1519, target 1475, 1444


Alternative strategy: bullish above 1519, target 1550, 1579

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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