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ETH: Oscillating up

2023-02-02
1047
Fundamental analysis:

Ethereum remained oscillating around 1637. Aave announced the launch of position migration from V2 to V3. The tool currently supports Ethereum, Polygon and Avalanche. Aave recommends that users migrate no more than five positions at a time and pay attention to health factors to mitigate liquidation risks. According to Dune data, the current market size of AaveV3 on Ethereum has reached 61.1 million US dollars.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level is maintained in a short-term range 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 around the 0 axis, and the RSI indicator is on the side of the 50 balance line;

Long-short turning point: 1628

Repression: 1653, 1668
Support: 1611, 1592

Trading strategy: Bullish above 1628, target 1653, 1668
Alternative strategy: bearish below 1628, target 1611, 1592

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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