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ETH: high up

Fundamental analysis:

Ethereum remained oscillating around 1595. The total sales of NFT on the Ethereum chain exceeded $35 billion, up to now $35,989,766,513, and the number of transactions on the chain was 23,352,874. Historical data shows that the total sales of NFTs on the Ethereum chain exceeded $30 billion on October 21, 2022, which means that in four months, the total sales of NFTs on the Ethereum chain increased by more than $5 billion, an increase of more than 16.7 %.

Ethereum ETHUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is moving upwards at a high level and is about to break through the previous high node in the short term. The market is shrouded in bullish sentiment, and the bullish momentum continues to move upward. The MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone.

Long-short turning point: 1583

Repression: 1618, 1642
Support: 1563, 1543

Trading strategy: Bullish above 1583, target 1618, 1642
Alternative strategy: bearish below 1583, target 1563, 1543

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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