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ETH: Shock and pull up

2023-05-07
887
Fundamental analysis:

Ethereum remained volatile around 1976. The Web3 credit protocol Getaverse held the ArbitrumSBT carnival event to celebrate the deployment to Arbitrum, and the number of participating users exceeded 30k within 24 hours. Currently, there are less than 20k SBT left to claim. Up to now, the number of users on the GetaverseDID platform has exceeded 37,000, the number of SBT castings on the platform has exceeded 52,000, and the number of trusted verification nodes has exceeded 13,000. All data have reached new highs.

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



Brief technical analysis:

Looking at the 4-hour chart: The bullish momentum remains volatile and rising, the short-term bullish sentiment continues, the bulls in the market continue to rise, and there is no sign of stopping, the MACD indicator is slowly rising above the 0 axis, and the RSI indicator is breathing upwards in the bullish zone;

Resistance level: 2005 2033

Support: 1939 1917

Trading strategy: Bullish above 1963, target 2005 2033
Alternative strategy: bearish below 1963, target 1939 1917

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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