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ETH: Short fall

Fundamental analysis:

Ethereum maintained a shock near 1120. According to DefiLlama data, the total locked position (TVL) of Solana chain fell to around $5. The current TVL is $507.7 million, with a 24-hour decline of 40.67%. The 24-hour liquidatable value decreased by 96.2%, and the current remaining liquidatable value is 2.3 million dollars.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

The 4-hour chart shows that the momentum of short sellers has dropped rapidly, the short-term decline may continue, and the market short sellers are emerging constantly. The MACD indicator is in the low position of short sellers, and the RSI indicator is in the narrow range above the 15 equilibrium line of the oversold area;

Multi empty turning point: 1144

Pressing: 1189, 1228

Support: 1083, 1051

Trading strategy: 1144 lower bearish, target 1083, 1051

Alternative strategy: bullish above 1144, target 1189, 1228

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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