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ETH: narrow amplitude oscillation

2022-11-08
533
Fundamental analysis:

Ethereum maintains the shock near 1569. Neon Labs plans to release its main network, namely Ethereum virtual machine, on Solana on December 12. The solution will allow developers to port Ethereum based applications on Solana.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the high level fluctuates in a narrow range, the market may maintain a narrow range for a short time, short sellers have signs of waiting for opportunities to enter the market, the MACD index hovers on the top of the 0 axis, and the RSI index is arranged near the 50 equilibrium line;


Empty turning point: 1583


Pressing: 1610, 1635


Support: 1545, 1521


Trading strategy: 1583 downside bearish, target 1545, 1521


Alternative strategy: bullish above 1583, target 1610, 1635

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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