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ETH: Short fall

2022-11-09
1476
Fundamental analysis:

Ethereum maintained a shock near 1324. According to Dune Analytics data, FTX has had a net outflow of 365123.76ETH since November 2, exceeding 550 million dollars at current prices. According to the data, FTX had the highest net outflow of ETH on November 7. On that day, the exchange had about 3379700 ETH inflows and 495970 ETHs outflows.


Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the momentum of short positions has fallen rapidly, the market short position mood is good, and the short-term decline may continue. The MACD indicator is in the short position and continues to decline, while the RSI indicator is in the lower part of the 50 equilibrium line;


Empty turning point: 1349


Pressing: 1385, 1418


Support: 1300, 1268


Trading strategy: 1349 lower bearish, target 1300, 1268

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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