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Eth: low position narrow amplitude oscillation translation

2022-09-06
1306
Fundamental analysis:

Ethereum kept shaking around 1592. According to 2miners data, the hash rate of the etc network reached 48.19th/s on September 4, a record high, with an increase of more than 140% in the past month.



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




Technical analysis:


From the 4-hour chart, we can see that the low level of short-term entanglement is moving in a narrow range, the market's long-term momentum is anxious in the short term, the MACD index is in a weak position near the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;


Long short turning point: 1596


Pressing position: 1638, 1675


Support position: 1552, 1517


Trading strategy: 1596 bearish, target 1552, 1517


Alternative strategy: bullish above 1596, targeting 1638 and 1675

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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