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ETH: high volatility

2023-01-20
552
Fundamental analysis:

Ethereum maintains a shock around 1534. According to Lookonchain monitoring, the address starting with 0xd04d has transferred 9,300 ETH (approximately US$11.16 million) to the giant whale address 0x9e92 in the past 20 days. The beginning of 0xd04d may belong to Vitalik Buterin, the founder of Ethereum. All the 70,000 ETHs he received came from Vb3. The giant whale address 0x9e92 currently holds 170,000 ETHs (about 259 million US dollars).

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



Brief technical analysis:

The 4-hour chart: the high short-term shock retreated, but slowly rose again after being supported, the bullish sentiment in the market emerged again, the short-term bulls continued to move up, the MACD indicator was in the bullish area, and the RSI indicator was hovering above the 50 balance line;

Long-short turning point: 1534

Repression: 1572, 1599
Support: 1511, 1487

Trading strategy: Bullish above 1534, target 1572, 1599
Alternative strategy: bearish below 1534, target 1511, 1487

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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