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ETH: weak hovering

2022-12-26
1189
Fundamental analysis:
Ethereum maintains a shock around 1214. According to the analysis of anonymous researcher hildobby, virtual transactions will account for more than half (58%) of the total NFT transaction volume on Ethereum in 2022. The strategy peaked in January, with virtual transactions accounting for more than 80% of total NFT transactions that month. Researchers use four filters to weed out odd trading behavior most likely to point to virtual trading


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



Brief technical analysis:
Looking at the 4-hour chart: short-term low volatility, bulls have signs of entering the market, but the overall market is weak, the MACD indicator is weak and hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 1209
Suppression: 1224, 1235
Support: 1198, 1188
Trading strategy: Bullish above 1209, target 1224, 1235
Alternative strategy: bearish below 1209, target 1198, 1188

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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