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ETH: low down
2023-02-14
1087
Fundamental analysis:
Ethereum maintains a shock around 1479, and the Aave community initiated a proposal to freeze the BUSD reserve on the Aave V2 Ethereum market. This proposal believes that the circulating supply of BUSD assets will eventually approach zero. The inability to mint new BUSD could hurt peg arbitrage opportunities and asset pegs with no real growth prospects.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues the downward trend, the short-term decline has not stopped, the market bearish sentiment emerges, the MACD indicator is in the bearish area and maintains order, and the RSI indicator is in the bearish area and remains low;
Long-short turning point: 1487
Repression: 1503, 1519
Support: 1486, 1452
Trading strategy: bearish below 1487, target 1486, 1452
Alternative strategy: call above 1487, target 1503, 1519
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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