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ETH: low volatility
2022-12-23
1048
Fundamental analysis:
Ethereum maintains 1209shocksBlockchain developer and builder Julien Bouteloup stated that ETH should be considered as infrastructure, currently, if we look at the potential long-term potential of the decentralized Internet, it is undervalued relative to other large technology stocks. During bear markets, we see less and less incentive to continue building new protocols.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: after the short-term volatility, the bulls have signs of waiting for opportunities to enter the market, but they are still weak. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 1212
Suppression: 1223, 1234
Support: 1198, 1188
Trading strategy: bearish below 1212, target 1198, 1188
Alternative strategy: call above 1212, target 1223, 1234
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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