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ETH: The huge shock fell

2023-04-27
889
Fundamental analysis:

Ethereum remained volatile around 1861. According to L2BEAT data, as of now, the total lock-up volume on Layer 2 of Ethereum is 9.53 billion US dollars, down 4.86% in the past 7 days. Among them, ArbitrumOne, the expansion solution with the highest locked amount, is about USD 6.32 billion, accounting for 66.35%, followed by Optimism, with a locked amount of USD 1.96 billion, accounting for 20.56%.

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



Brief technical analysis:

Looking at the 4-hour chart: the market fell after a short-term wide-range shock, and the market’s short-term decline remains. In the short-term, there are signs of continued shocks and downward movements. The MACD index is in the short-term area and moves up after the shock; the RSI index is in shock near the 50 balance line;

Resistance level: 1895 1917

Support: 1834 1812

Trading strategy: bearish below 1873, target 1834 1812
Alternative strategy: call above 1873, target 1895 1917

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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