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ETH: high volatility

2023-01-24
1035
Fundamental analysis:

Ethereum maintains a shock around 1646. According to a survey conducted by CoinWire on more than 10,000 crypto investors in December 2022, 69% of the respondents believe that the Metaverse will reshape the social lifestyle with a new entertainment method, while 65 % of respondents believe that the metaverse will carry out social activities in a new way.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level long-term dynamics not only fluctuate upwards, but the short-term high-level and narrow-range consolidation, the market is still bullish, the upward trend is good, the MACD indicator is in the long-term zone, and the RSI indicator is hovering at the high level in the long-term zone;

Long-short turning point: 1619

Repression: 1646, 1663
Support: 1598, 1580

Trading strategy: Bullish above 1619, target 1646, 1663
Alternative strategy: bearish below 1619, target 1598, 1580

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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