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ETH: The short position fell sharply

Fundamental analysis:

Ethereum has maintained a concussion near 1601. According to the "Ethereum Merge Countdown" page of OKLink multi chain browser, the current block height is 15526845. The latest block is from unknown, and the current difficulty is 12.38PH. It is estimated that 10242 blocks remain to be merged with Ethereum.

Ethereum ETHUSD - 4-hour K line diagram shows:

Technical analysis:

According to the 4-hour chart, the high-level short power drops rapidly, the short-term short power enters the market strongly, and the market decline may continue. The MACD indicator is in the long area, maintaining a weak and slow decline, and the RSI indicator is in the narrow range below the 50 equilibrium line;

Empty turning point: 1613

Pressing position: 1641, 1669

Support position: 1574, 1549

Trading strategy: 1613 down bearish, target 1574, 1549

Alternative strategy: 1613 upside bullish, target 1641, 1669

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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