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ETH: narrow amplitude oscillation

Fundamental analysis:

Ethereum maintained the shock near 1217. According to the slow fog monitoring, the founder of Ethereum Vitalik Buterin's address (beginning with 0xe692) recently converted 3000 Ethereum (about 4 million dollars) into USDC in three transactions on Uniswap V3.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

The 4-hour chart shows that the short-term narrow range shock is slowly declining, the short position sentiment of the market continues, and the short-term decline may continue. The MACD indicator is in the short position area, and the RSI indicator is hovering below the 50 equilibrium line;

Empty turning point: 1238

Pressing: 1278, 1315

Support: 1184, 1147

Trading strategy: bearish under 1238, target 1184, 1147

Alternative strategy: bullish above 1238, target 1278, 1315

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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