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ETH: Weak narrow range finishing

2022-09-30
1309
Fundamental analysis:

Ethereum maintained the shock near 1331. After Ethereum blockchain turned to equity certification, Deutsche Telekom was the latest institution to launch Ethereum equity services. Its T-Systems MMS subsidiary will be a blockchain custody verification node and provide a custody solution for the liquid pledge solution, StackWise. Deutsche Telekom will also participate in the governance of the Decentralized Autonomous Organization (DAO) of StackWise.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that, in the short term, it is at a low level and maintains a narrow range of consolidation, entanglement and translation, and the market is still in a state of restlessness. The MACD index is weak and hovering near the 0 axis, and the RSI index is narrow and consolidated near the 50 equilibrium line;


Empty turning point: 1328


Pressing position: 1378, 1413


Support position: 1292, 1256


Trading strategy: bullish above 1328, target 1378, 1413


Alternative strategy: 1328 lower bearish, target 1292, 1256

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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