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ETH: weak consolidation
2023-05-17
850
Fundamental analysis:
Ethereum maintained a shock around 1816. Gary Gensler, chairman of the US Securities and Exchange Commission, said in the question-and-answer session of the 27th annual financial market conference held by the Federal Reserve Bank of Atlanta, Gensler said that the cryptocurrency market is generally not compliant and is based on decentralization. "mis-narratives".
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term narrow-range weak consolidation shifts, the long-short momentum of the market is short-term anxious, and the final direction guidance has not yet been given. The MACD indicator is weakly consolidated below the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;
Resistance level: 1841 1861
Support: 1789 1769
Trading strategy: Bullish above 1809, target 1841 1861
Alternative strategy: bearish below 1809, target 1789 1769
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