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ETH: Low level oscillation

2022-11-23
481
Fundamental analysis:

Ethereum maintained a shock near 1120. Santiment data showed that on November 21, Jujing, whose ETH holdings ranged from 10000 to 1 million ETHs, increased its holdings of 947940 ETHs, or about US $10.3 billion, which was also the fifth largest ETH increase in the past year.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:

The 4-hour chart shows that the downward trend of short sellers is good. After the short-term low settlement, there are many bulls waiting for an opportunity to enter the market, but the overall downward trend is good. The MACD indicator hovers under the 0 axis and the RSI indicator hovers under the 50 equilibrium line;

Empty turning point: 1140

Pressing: 1177, 1216

Support: 1081, 1051

Trading strategy: bearish under 1140, target 1081, 1051

Alternative strategy: bullish above 1140, target 1177, 1216

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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