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Eth: low position narrow range finishing

Fundamental analysis:

Ethereum maintained a shock around 1574, and synhetix, a decentralized synthetic asset agreement, blogged that it would suspend most of its functions three hours before the merger of Ethereum, including synthetic exchange, futures, loan, pledge (claim, casting, destruction) and bridge functions. SNx tokens can still be transferred.

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

Technical analysis:

According to the 4-hour chart, the low-end bulls are finishing after the short-term consolidation and recovery. The market has entered the market to a certain extent, but it is still in the low-end weak consolidation. The MACD index is in the weak hover on the lower side of the 0 axis, and the RSI index is in the weak consolidation near the 50 equilibrium line;

Long and short turning point: 1596

Pressing position: 1638, 1675

Support position: 1529, 1491

Trading strategy: 1596 bearish, targets 1529 and 1491

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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