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ETH: high position up

2022-10-27
1278
Fundamental analysis:

Ethereum maintained the shock around 1547. Clara Medalie, research director of Kaiko, a data provider in the encryption market, tweeted that the correlation between BTC and ETH has dropped to the lowest level since November 2021.




Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the bullish trend is good, the short-term bullish mood is shrouded, the market bullish continues to rise, the MACD index hovers at the high level in the bullish region, and the RSI index hovers at the weak point near the 80 equilibrium line in the overbought region;


Empty turning point: 1536


Pressing: 1574, 1600


Support: 1509, 1480


Trading strategy: bullish above 1536, target 1574, 1600


Alternative strategy: 1536 bearish, target 1509, 1480

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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