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ETH: Low and weak
2022-09-22
1334
Fundamental analysis:
Ethereum maintained a shock near 1309. According to Crypto Compare data, the trading volume of Bitcoin and Ethereum futures contracts on the Chicago Mercantile Exchange fell 20.7% month on month to 28.9 billion dollars in August, hitting a new low since December 2020.
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that after the bearish power shocks and goes down, the low position narrow range weak position is sorted out, the market bearish sentiment remains, and the short-term decline may continue. The MACD indicator is sorted out in the bearish area, and the RSI indicator is hovering below the 50 equilibrium line;
Empty turning point: 1319
Pressing position: 1355, 1385
Support position: 1275, 1244
Trading strategy: bearish under 1319, target 1275, 1244
Alternative strategy: bullish above 1319, target 1355, 1385
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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