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ETH: Retracement from lows

2023-09-10
700
Fundamental analysis:

Ethereum continues to fluctuate around 1622. SlowMist Chief Information Security Officer 23pds said on social media The same hacks are all targeted attacks on well-known people. Well-known people have a large number of fans, and the exposure of posting phishing information will be greatly increased, making it easier to make profits.

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



Brief technical analysis:

Looking at the 4-hour chart: short-term lows and short-term shocks have retreated, the market is shrouded in bearish sentiment, and there are signs of continued low consolidation and downward movement in the short term. The MACD indicator is weakly hovering below the 0 axis, and the volume energy column maintains a shrinking state;

Resistance level: 1641 1653

Support level: 1610 1599

Trading strategy: Bearish below 1629, target 1610 1599
Alternative strategy: bullish above 1629, target 1641 1653

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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