CM Trade

Download APP to receive bonus


ETH: wide range shock

Fundamental analysis:

Ethereum remained oscillating around 1618. Conor, director of Coinbase business, said on social media that the address beginning with (0x2B6e) is one of the most mysterious addresses in all cryptocurrencies. Among them, $75,000 worth of ETH was purchased in 14 years of ICO; a wallet that was not touched at all; and a transaction was never made.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term wide-range volatility continues, the market as a whole may continue to fluctuate, and the final direction has not yet been guided in the short term. The MACD indicator is hovering below the 0 axis, and the RSI indicator is finishing below the 50 equilibrium line;

Long-short turning point: 1624

Repression: 1640, 1659
Support: 1598, 1583

Trading strategy: bearish below 1624, target 1598, 1583
Alternative strategy: call above 1624, target 1640, 1659

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar