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ETH: recovery and shock
2023-05-11
849
Fundamental analysis:
Ethereum remained volatile around 1853. According to CoinDesk, Ernst & Young (EY) announced at the Global Blockchain Summit in London the launch of a carbon emissions tracking platform based on Ethereum. The platform has now launched a beta version on the EYBlockchainSaaS platform. The system uses carbon tokens developed by the Microsoft-backed InterWork Alliance standards body.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After a short-term violent shock, it pulled up, and the market’s bullish sentiment quickly emerged. In the short term, there are signs of continued upward movement. The MACD indicator is in the short-term area to maintain consolidation, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance level: 1875 1903
Support level: 1810 1787
Trading strategy: Bullish above 1837, target 1875 1903
Alternative strategy: bearish below 1837, target 1810 1787
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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