ETH: low move down
Ethereum remains oscillating around 1543. According to encryption service provider Matrixport, now is the time to trade relative value. Traders can now buy Ethereum call options and fund them by selling Bitcoin call options, with considerable profit potential.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fluctuate downwards, the short-term decline may continue, the market as a whole is moving downwards at a low level, the MACD indicator is in the bearish area to maintain consolidation, and the RSI indicator is in the bearish area and moves downward;
Resistance: 1560 1572
Support level: 1530 1519
Trading strategy: bearish below 1540, target 1530 1519
Alternative strategy: call above 1540, target 1560 1572
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