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Ethereum: weak consolidation

2022-07-07
1320
Fundamental analysis:

Ethereum maintained a shock around 1155. Altlayer, the Ethereum expansion project, announced today that it would air drop og badges NFT to early users. There were 1000 og badges in this event, 400 of which would be cast and distributed in this event, and the remaining 600 og badges would be reserved for future distribution.



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




Technical analysis:


According to the 4-hour chart: it has been maintained in the narrow range of the Bollinger belt index channel for a long time, and the Bollinger belt index shows a closing trend and moves up slowly, but the short-term high-level suppression exists, the MACD index hovers around the 0 axis, and the RSI index hovers above the 50 equilibrium line;


Long short turning point: 1160


Pressing position: 1222, 1290


Support position: 1049, 971


Trading strategy: bearish below 1160, goals 1049, 971


Alternative strategies: bullish above 1160, goals 1222, 1290

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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