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Eth: low wide range oscillation
2022-08-30
1327
Fundamental analysis:
Ethereum remained volatile around 1540. The Chicago Mercantile Exchange (CME) launched bitcoin and Ethereum futures denominated in euros. Each bitcoin contract represents 5 bitcoins and each Ethereum contract represents 50 Ethereum. The new futures contract will be listed on the Zhishang exchange and subject to its rules.
Ethereum ethusd - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short power continued to fluctuate downward, the low was supported and reversed in the short term, and the bulls were waiting for the opportunity to enter the market. However, the market short sentiment was shrouded, the low pull-up trend began to weaken, the MACD index was in the short area and maintained the consolidation and translation, and the RSI index was in the lower side of the 50 equilibrium line;
Long and short turning point: 1562
Pressing position: 1600, 1638
Support position: 1496, 1452
Trading strategy: 1562 lower bearish, target 1496, 1452
Alternative strategy: bullish above 1562, targets 1600 and 1638
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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