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ETH: short-term volatility

2023-02-06
1159
Fundamental analysis:

Ethereum maintains a shock around 1648. According to data from Dune Analytics, the market size of Aave V3 on Ethereum has exceeded 100 million US dollars. In addition, the current number of Aave V3 users on Ethereum is 777, and the loan scale is about 40.55 million US dollars.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term high volatility has retreated, the market has not yet made a major direction decision, and is entangled in the high volatility, the MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is hovering weakly above the 50 balance line;

Long-short turning point: 1653

Repression: 1667, 1679
Support: 1636, 1623

Trading strategy: bearish below 1653, target 1636, 1623
Alternative strategy: call above 1653, target 1667, 1679

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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