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ETH: highs down
2023-02-17
1010
Fundamental analysis:
Ethereum remained oscillating around 1675. Despite the rise in BTC and ETH prices, some projects are postponing their token issuance plans due to lack of liquidity. According to CoinMarketCap, the number of new currency applications fell throughout 2022, from 10,264 in the first quarter to 6,350 in the fourth quarter.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strong and fluctuating, and the short-term resistance is retraced. The market's bearish sentiment begins to emerge slowly. The MACD indicator is in the high position of the bullish zone, and the RSI indicator is in the high zone of the bullish zone.
Long and short turning point: 1680
Repression: 1699, 1716
Support: 1658, 1641
Trading strategy: bearish below 1680, target 1658, 1641
Alternative strategy: call above 1680, target 1699, 1716
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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