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ETH: ladder shocks down

2022-12-08
1152
Fundamental analysis:
Ethereum remained volatile around 1227. The Japan Financial Services Agency extended the FTX Japan business stop order originally scheduled to expire on December 9, because FTX Japan is still unable to provide deposit and withdrawal services normally, and it will take time to return customer funds.


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



Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate downward in a stepwise manner, the short-term decline may continue, the market is shrouded in bearish sentiment, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is hovering in a narrow range below the 50 balance line;
Long-short turning point: 1233
Suppression: 1248, 1264
Support: 1211, 1197
Trading strategy: bearish below 1233, target 1211, 1197
Alternative strategy: call above 1233, target 1248, 1264

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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