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ETH: low move down
2023-09-12
470
Fundamental analysis:
Ethereum maintains a fluctuation around 1536. According to ultrasound.money data, the issuance of ETH last week was 15,559 ETH, which is greater than the amount destroyed (11,374 ETH). ETH is now in an inflationary state. According to the inflation level in the past 7 days, the annual inflation The level is 0.18%.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum continues to fluctuate and move downwards at low levels. The short-term decline has not stopped. The market is bearish and has a downward trend in the short-term. The MACD indicator is in the short area and continues to decline. The RSI indicator is in the short area and is balanced at a low of 15. The online side is weak;
Resistance level: 1561 1577
Support level: 1522 1508
Trading strategy: Bearish below 1546, target 1522 1508
Alternative strategy: bullish above 1546, target 1561 1577
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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