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ETH: range-bound

2023-03-26
936
Fundamental analysis:

Ethereum maintains a shock around 1753. In view of the upcoming Ethereum blockchain upgrade named Shapella (also known as: Ethereum Shanghai upgrade), the upgrade is scheduled to take place on April 12, and the Ethereum Foundation doubled the highest bug bounty. One round, up to $500,000, for identifying related vulnerabilities.

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



Brief technical analysis:

Looking at the 4-hour chart: In the short term, the market is entangled in high-level range shocks. The market as a whole has not yet come out of the final direction guideline. In the short term, it will continue to maintain a wide range of consolidation. The MACD indicator is in the bullish area and maintains a downward trend. The RSI indicator is hovering around the 50 balance line;

Resistance level: 1806 1846

Support level: 1715 1675

Trading strategy: bearish below 1765, target 1715 1675
Alternative strategy: call above 1765, target 1806 1846

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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