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ETH: low move down

Fundamental analysis:

Ethereum remained oscillating around 1625, and the attacker address marked as Eralend on Ethereum, Optimism and Arbitrum has transferred a total of about 410.8 ETH (about 757,000 US dollars, equivalent to 31% of the stolen funds) to CEX. On July 25, EraLend on zkSync was exploited to steal approximately $2.7 million worth of cryptocurrency.

Ethereum ETHUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: The short-term sentiment is fluctuating downwards, and the short-term decline may continue. The overall market is in a bearish trend. The MACD indicator is in the low position of the short area, and the RSI index is hovering at the low level in the short area;

Resistance: 1654 1673

Support level: 1605 1587

Trading strategy: bearish below 1635, target 1605 1587
Alternative strategy: call above 1635, target 1654 1673

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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