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ETH: hovering at a high level

2023-01-18
1114
Fundamental analysis:

Ethereum maintained a shock around 1573, and the World Economic Forum (WEF) announced at the Davos annual meeting that it will cooperate with Accenture and Microsoft to develop a prototype global collaborative village in the Metaverse. Metaverse currently has 80 Village Partners supporting the plan, including JPMorgan Chase, KPMG, Ernst & Young, and McKinsey, as well as the United Nations and the World Trade Organization.

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



Brief technical analysis:

4-hour chart: High short-term fluctuations within a narrow range, the market is slowly rising at a high level, the short-term bullish sentiment remains, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering below the 80 equilibrium line in the high overbought zone in the bullish zone;

Long-short turning point: 1562

Repression: 1591, 1611
Support: 1541, 1516

Trading strategy: Bullish above 1562, target 1591, 1611
Alternative strategy: bearish below 1562, target 1541, 1516

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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