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ETH: low move down

Fundamental analysis:

Ethereum maintains fluctuations around 1612. According to NFTGo data, the number of buyer addresses in the Ethereum NFT market in the past 24 hours was 4,119, and the number of seller addresses was 4,201. The number of profitable addresses in the past 30 days is 41,442, and the number of loss-making addresses is 455,154.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum fluctuates downwards, the short-term decline may continue, the market as a whole continues to decline, the MACD indicator is in the short area and continues to decline, and the RSI indicator is weakly consolidating below the 50 equilibrium line;

Resistance level: 1639 1656

Support level: 1595 1580

Trading strategy: bearish below 1621, target 1595 1580
Alternative strategy: call above 1621, target 1639 1656

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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