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ETH: high retracement
2022-12-06
1341
Fundamental analysis:
Ethereum remains volatile around 1251. Asian digital asset financial services group HashKey Group and Swiss regulated digital asset service provider SEBA Bank today announced the establishment of a new strategic partnership. The two financial service groups will use their respective advantages in digital asset services products as well as custody and asset management products to accelerate institutional adoption of digital assets in Hong Kong and Switzerland.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high short-term momentum retreats downward, the short-term decline may continue, the overall bearish sentiment in the market begins to emerge, the MACD indicator is hovering above the 0 axis, and the RSI indicator is below the 50 balance line for weak consolidation;
Long-short turning point: 1259
Repression: 1276, 1292
Support: 1237, 1223
Trading strategy: bearish below 1259, target 1237, 1223
Alternative strategy: call above 1259, target 1276, 1292
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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