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ETH: Oscillating up
2023-05-18
860
Fundamental analysis:
Ethereum remained volatile around 1821. According to TheBlock's data dashboard, Binance accounted for 62% of the market share in cryptocurrency spot trading volume in February, which has dropped to about 47% so far this month. Still, Binance remains the largest spot cryptocurrency exchange in the world.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term narrow-range volatility fell and then reversed upwards, the market’s bullish sentiment gradually emerged, and the short-term trend continued to move upwards. The MACD index was weakly finishing below the 0 axis, and the RSI index was hovering weakly above the 50 balance line;
Resistance level: 1841 1861
Support: 1789 1769
Trading strategy: Bullish above 1809, target 1841 1861
Alternative strategy: bearish below 1809, target 1789 1769
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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