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ETH: Short Position Oscillation

2022-09-20
1344
Fundamental analysis:

Ethereum has maintained the shock near 1351. Recently, Ethereum has switched from the previous PoW to the PoS model. This practice of classifying the world's second largest cryptocurrency as a security may have attracted the attention of Chairman Gensler of the US Securities and Exchange Commission.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the bearish power remains in shock downward, while the low short-term shock moves upward, but the downward trend is good. In the short term, or the low level is maintained, the MACD indicator is maintained in the short area, and the RSI indicator is maintained hovering in the short area;


Empty turning point: 1372


Pressing position: 1408, 1439


Support position: 1318, 1285


Trading strategy: 1372 lower bearish, target 1318, 1285



Alternative strategy: bullish above 1372, target 1408, 1439

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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