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