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Ethereum: bears continue to fall
2022-07-13
1455
Fundamental analysis:
Ethereum remained volatile around 1041, and the number of monthly active addresses of Ethereum (ETH) was about 6million, the lowest level since June 2020. The number of active Ethereum addresses rebounded between the end of 2021 and the beginning of 2022. By March 2022, this figure has reached about 9million.
Ethereum ethusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the momentum of short positions continues to follow the downward trend, and the trend is good. The low position in the early stage is close at hand, and the breaking position is imminent. The MACD index is in the short position area, maintaining a weak consolidation and moving down, and the RSI index is hovering below the 50 equilibrium line;
Turning point of long and short: 1051
Pressing position: 1087, 1113
Support position: 1012, 986
Trading strategy: 1051 down bearish, target 1012, 986
Alternative strategy: 1051 is bullish, with goals 1087 and 1113
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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