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ETH: Low level wide amplitude vibration downlink

2022-09-21
1337
Fundamental analysis:

Ethereum maintained the shock near 1337. Citigroup's research report said that the Ethereum merger had been completed. Although there was a "very high expectation" for the transition, the volatility was still low. The energy efficiency of Ethereum is 99.95% higher than that of the PoW process. After the transition, the miners will no longer receive rewards, pointing out that these rewards are equivalent to 4.9 million ETH per year.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the market bears are shrouded in sentiment. After a short period of shock, the market falls again, and there is no sign of the final stop of the decline. The MACD indicator is in the short position area to maintain consolidation, and the RSI indicator is in the short position area to maintain a weak position before it starts to decline;


Empty turning point: 1348


Pressing position: 1385, 1421


Support position: 1302, 1267


Trading strategy: 1348 downside bearish, target 1302, 1267


Alternative strategy: bullish on 1348, target 1385, 1421


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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