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Ethereum: low level finishing

2022-06-29
1643
Fundamental analysis:

Ethereum maintained a shock around 1155. The valuation of cryptocurrencies should not be linked to the idea that they can replace the US dollar. On the contrary, cryptocurrencies should be regarded as a system to replace value transmission. Cryptocurrency prices should be treated as Internet stocks rather than currencies.




Ethereum ethusd - 4-hour K-line diagram display:




Technical analysis:


According to the 4-hour chart: it has been maintained in a narrow range of weak shocks in the Bollinger belt index channel for a long time. Although the low-level bull power is waiting for the opportunity to enter and go up, the market as a whole is still weak. The Bollinger belt index continues to close, the MACD index hovers on the upper side of the 0 axis, and the RSI index is arranged near the 50 equilibrium line;


Long short turning point: 1183


Pressing position: 1250, 1310


Support position: 1101, 1051


Trading strategy: down 1183, target 1101, 1051


Alternative strategy: bullish above 1183, target 1250, 1310

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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