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ETH: Weak shock
2022-11-14
1349
Fundamental analysis:
Ethereum maintained the shock near 1268, and more and more institutional investors are dissatisfied with the collapse of FTX. Salman Ahmed, chief investment strategist of Fidelity International, said that the collapse of FTX caused large institutional investors to question the feasibility of the crypto ecosystem. It was difficult to invest in cryptocurrencies in the past, but now the pressure will be greater.
Ethereum ETHUSD - 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that the low short-term weak position has been sorted out in a narrow range, the market bears remain, and the downward momentum has weakened. The MACD index is sorted out in the short position area, and the RSI index is hovering in the weak position below the 50 equilibrium line;
Empty turning point: 1283
Pressing: 1333, 1374
Support: 1225, 1184
Trading strategy: bearish under 1283, target 1225, 1184
Alternative strategy: bullish above 1283, target 1333, 1374
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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