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ETH: moving up slowly
2023-05-04
824
Fundamental analysis:
Ethereum maintained a shock around 1869, and the French Senate Economic Committee suggested that social media influencers will be allowed to promote the products of registered cryptocurrency companies such as Binance. The senators appear to be more inclined towards less restrictive measures than their counterparts in the Paris National Assembly, which voted in March to effectively ban cryptocurrency ads from social media stars.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a slow order and moves up, the market is still bullish, and there are signs of continued upward movement in the short term, the MACD indicator is hovering below the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance level: 1890 1919
Support level: 1826 1804
Trading strategy: Bullish above 1850, target 1890 1919
Alternative strategy: bearish below 1850, target 1826 1804
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