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ETH: low move down
2023-03-08
1002
Fundamental analysis:
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
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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