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ETH: highs down

2023-03-23
911
Fundamental analysis:

Ethereum maintains a shock around 1732. On-chain data shows that there are about 40 million Ethereum wallets holding less than 0.0005 ETH. Since the gas fee of 20gwei requires about 0.0005 ETH, it is usually not worth sending it to the exchange.

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



Brief technical analysis:

Looking at the 4-hour chart: After the high short-term consolidation, the short-term momentum finally went down, the market's short-term sentiment began to slowly emerge and move down, the MACD indicator was in the bullish area and slowly moved down, and the RSI indicator was in a weak order near the 50 balance line;

Resistance level: 1791 1822

Support: 1699 1664

Trading strategy: bearish below 1756, target 1699 1664
Alternative strategy: call above 1756, target 1791 1822

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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