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Eth: short positions fell rapidly

2022-09-07
1286
Fundamental analysis:

Ethereum continues to shake around 1574. At present, the Ethereum Fair (ETF) technical community has released the latest test network after the merger of Bellatrix, and has also merged the Ethereum version of sentry omega (v1.10.23), which is currently the latest test network version in the bifurcation field. It is reported that Bellatrix is the hard fork of the merger of Ethereum 1.0 and Ethereum 2.0, and is also a necessary step before the formal merger.




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




Technical analysis:


According to the 4-hour chart, the low-level Bulls' power rose in a step-by-step manner, fell sharply after encountering obstacles in the short term, the bears' power waited for the opportunity to enter the market, the MACD index hovered around the 0 axis, and the RSI index was in a narrow range under the 50 equilibrium line;


Long short turning point: 1591


Pressing position: 1623, 1654


Support position: 1540, 1510


Trading strategy: 1591 bearish, target 1540, 1510


Alternative strategy: bullish above 1591, targets 1623 and 1654

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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