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ETH: within a narrow range

Fundamental analysis:

Ethereum remained volatile around 1638. According to Block Research data, CME Group’s Ethereum futures average monthly trading volume reached US$499 billion in February, an increase of 3.7%; Bitcoin futures positions fell by more than 15%, reaching US$1.88 billion. The average daily turnover has risen by 26% to US$1.24 billion.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term volatility is within a narrow range, the market as a whole is in a range order, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;

Long-short turning point: 1631

Repression: 1652, 1668
Support: 1614, 1599

Trading strategy: Bullish above 1631, target 1652, 1668
Alternative strategy: bearish below 1631, target 1614, 1599

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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