Eth: uplink pullback in case of obstruction

Fundamental analysis:

Ethereum kept shaking around 1572, and FTX released an update on the merger of Ethereum. FTX will suspend the recharge and withdrawal of native Eth and erc-20 tokens about half an hour before the Bellatrix consensus layer upgrade (beacon chain epoch 144896:11:34:47 UTC, September 6, 2022) and the Paris executive layer upgrade. Spot trading, spot leverage trading and futures trading of Eth and erc-20 tokens will not be affected. After the merger, one or more POW eth forks may occur. If a typical POW eth forks, FTX will distribute the forked POW Eth and count it into the user account.

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

Technical analysis:

According to the 4-hour chart, the low-level Bulls' power maintains the upward movement of narrow consolidation, the short-term upward movement retreats when encountering obstacles, the bears' power waits for the opportunity to enter the market, the MACD index hovers in a weak position near the 0 axis, and the RSI index is in a narrow consolidation near the 50 equilibrium line;

Long short turning point: 1596

Pressing position: 1638, 1675

Support position: 1529, 1491

Trading strategy: 1596 bearish, targets 1529 and 1491

Alternative strategy: bullish above 1596, targeting 1638 and 1675