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ETH: high retracement
2022-12-07
1254
Fundamental analysis:
Ethereum remained volatile around 1248. According to reports on the chain, the total assets of Amber’s six Ethereum wallets are US$9.46 million, including 3,990 ETH (US$5 million), 1,111,841 USDC, 1,652,678 USDT and 29,182 BUSD.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum maintains a narrow range and slowly moves down, and the market’s short-selling sentiment begins to wait for an opportunity to enter the market. The MACD indicator is in a weak order near the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 1255
Repression: 1272, 1283
Support: 1231, 1216
Trading strategy: bearish below 1255, target 1231, 1216
Alternative strategy: call above 1255, target 1272, 1283
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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