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ETH: high retracement
2023-04-07
873
Fundamental analysis:
Ethereum maintains a shock around 1859, and the full-chain LSD protocol Bifrost announced the launch of vETH 2.0 version. The core function of this upgrade is compatible with the Ethereum mainnet Shanghai upgrade, and supports 1:1 redemption of ETH previously involved in staking. vETH 1.0 will The exchange function of vETH 2.0 has been opened, and vETH 2.0 will open a new round of liquidity incentives.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate downward, the short-term decline may continue, the market as a whole is in a high-level short-term retracement, the MACD indicator is in the bullish area and moves down from the high level, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance level: 1884 1902
Support: 1840 1824
Trading strategy: bearish below 1866, target 1840 1824
Alternative strategy: call above 1866, target 1884 1902
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