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ETH: weak consolidation

Fundamental analysis:

Ethereum maintains fluctuations around 1554. Tokenview chain data shows that the current beacon chain ETH2 contract address pledge deposit exceeds 17,496,519 ETH, an increase of about 90,160 ETH in the past week.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-seller dynamics fluctuated rapidly and then moved down and then narrowed weakly. The market as a whole is in a short position and continues to decline.

Resistance: 1582 1599

Support level: 1538 1523

Trading strategy: bearish below 1565, target 1538 1523
Alternative strategy: call above 1565, target 1582 1599

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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