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ETH: Weak narrow range finishing

2022-10-04
1380
Fundamental analysis:

Ethereum maintained the shock near 1315. The tweet released by Vitalik Buterin, the founder of Ethereum, which jointly launched the Ethereum account abstract proposal EIP-4337 in September 2021, recently released a new version, adding signature aggregation including BLS signature algorithm. The signature aggregation function enables builders and batch submitters to aggregate signatures (such as BLS and SNARKs), greatly reducing the data on the chain.



Ethereum ETHUSD - 4-hour K line diagram shows:




Technical analysis:


The 4-hour chart shows that the low position bull power maintains a narrow range of consolidation, the market fluctuates in a short-term or tangled low range, the MACD index is weak around the 0 axis, and the RSI index is weak around the 50 equilibrium line;


Empty turning point: 1302


Pressing position: 1357, 1395


Support position: 1256, 1220


Trading strategy: bullish above 1302, target 1357, 1395


Alternative strategy: 1302 lower bearish, target 1256, 1220

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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