CM Trade

Download APP to receive bonus

GET

ETH: low order

2023-08-29
709
Fundamental analysis:

Ethereum remained oscillating around 1641. According to CryptoQuant data, on August 27, the daily fee paid by users to perform transactions on Ethereum was 1,719ETH, which was the lowest point since December 26 last year. Compared with May 5 The daily high of 16,720 ETH fell by 89%.

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



Brief technical analysis:

4-hour chart: In the short-term, the market remains weak, and the market bearish sentiment slowly emerges. In the short-term, there are signs of a slow downward trend. The MACD indicator is in the short-term area, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance: 1676 1696

Support level: 1624 1605

Trading strategy: bearish below 1654, target 1624 1605
Alternative strategy: call above 1654, target 1676 1696

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More