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ETH: low order

2023-01-03
1081
Fundamental analysis:
Ethereum remained volatile around 1189, and a group of Russian lawmakers led by Financial Markets Committee Chairman Anatoly Aksakov has submitted draft legislation on the digital ruble, a CBDC minted by Russian monetary authorities. The document proposes legislative changes aimed at creating the conditions for its introduction.



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



Brief technical analysis:
Looking at the 4-hour chart: the market is shrouded in bearish sentiment, short-term entangled in the low-level weak consolidation, and there is no sign of changing the low-level weak trend, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly consolidated below the 50 balance line;
Long-short turning point: 1196
Repression: 1209, 1221
Support: 1177, 1166
Trading strategy: bearish below 1196, target 1177, 1166
Alternative strategy: call above 1196, target 1209, 1221

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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