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ETH: weak consolidation

2022-12-30
1168
Fundamental analysis:
Ethereum remained volatile around 1190. After mfer #1374 was traded at a price of 250 ETH yesterday, mfer #8718 was traded at a price of 500.22 ETH on the Blur platform today, which is about 597,900 U.S. dollars, refreshing the highest record of this NFT series so far. The floor price of the current NFT project mfers has reached 1.37 ETH, an increase of 10.48% in the past 24 hours, and the market value has risen to 52.58 million US dollars.


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



Brief technical analysis:
Looking at the 4-hour chart: the market as a whole is in a weak trend, maintaining a narrow range at low levels, and constantly hovering at low levels. The MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 1196
Repression: 1209, 1221
Support: 1177, 1166
Trading strategy: bearish below 1196, target 1177, 1166
Alternative strategy: call above 1196, target 1209, 1221

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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