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ETH: Low and weak

2022-10-03
1222
Fundamental analysis:

Ethereum maintained the shock around 1342. The Financial Conduct Authority (FCA) of the United Kingdom revealed that although it failed to meet the regulatory requirements for the first time, many cryptocurrency companies are still seeking permission to operate in the United Kingdom. They know that we have a good regulatory system. If they meet our standards, it is important for them to apply in every jurisdiction around the world.




Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the market maintains a narrow range of weak low positions. Although there is a long-term momentum, it is generally in a weak position. The MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak position above the 50 equilibrium line;


Empty turning point: 1328


Pressing position: 1378, 1413


Support position: 1292, 1256


Trading strategy: bullish above 1328, target 1378, 1413


Alternative strategy: 1328 lower bearish, target 1292, 1256

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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