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ETH: Narrow consolidation

Fundamental analysis:

Ethereum maintains fluctuations around 1598. Dan Tapiero, CEO of 10TH Holdings, said at Token2049 held on September 13 that Bitcoin and Ethereum have established network effects and are core assets in the encryption field. Bitcoin and Ethereum are already different from other crypto-assets, and other crypto-assets are still in the risk stage.

Ethereum ETHUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term lows maintain a narrow range, the market's low bull momentum fluctuates upward and then fluctuates within a narrow range, the short-term bull momentum weakens, the MACD indicator is in the short area and fluctuates upward, and the RSI indicator is hovering near the 50 equilibrium line;

Resistance level: 1610 1627

Support level: 1571 1555

Trading strategy: Bullish above 1588, target 1610 1627
Alternative strategy: bearish below 1588, target 1571 1555

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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