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ETH: Short positions fluctuate and plummet

Fundamental analysis:

Ethereum maintained a shock near 1498, and the Ethereum merger progress reached 100%, and the merger was officially completed; V God responded to the stability after merging: to achieve better EIP 1559 performance.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

The 4-hour chart shows that the short-term bearish power drops rapidly, the market bearish mood is shrouded, and there is a trend of continued downward movement. The MACD indicator stays in the bearish area and maintains downward movement, while the RSI indicator stays in the bearish area and remains weak;

Empty turning point: 1511

Pressing position: 1544, 1579

Support position: 1467, 1438

Trading strategy: bearish under 1511, target 1467, 1438

Alternative strategy: bullish above 1511, target 1544, 1579

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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