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ETH: wide range shock
2023-02-01
1058
Fundamental analysis:
Ethereum maintains a shock around 1579, and the oracle machine Pyth Network is launched on Arbitrum, which currently only supports some smaller protocols. Previously, Pyth Network has launched Ethereum and Optimism in November 2022.
Ethereum ETHUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term wide fluctuations, the market as a whole is in the range consolidation, the short-term bullish momentum has signs of moving up, the MACD indicator is weakly finishing around the 0 axis, and the RSI indicator is weakly hovering around the 50 balance line;
Long and short turning point: 1570
Repression: 1599, 1616
Support: 1549, 1533
Trading strategy: Bullish above 1570, target 1599, 1616
Alternative strategy: bearish below 1570, target 1549, 1533
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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