The price has had little volatility for almost a month, all moving within our given range. On last Friday, the US NFP for September was better than expected, which made the price which would have broken through the resistance level reversed down again. And OPEC+'s plan to cut production by 2 million barrels a day in November also reminds us that the macro situation has not recovered, and there may even be worse . This Thursday will release CPI data of September. If it is worse than the market expected 8.1% again, then 2022 will have a bad ending.
We set a resistance level for ETH with the same logic as BTC’s, but ETH still has some distance from the given resistance level (red dotted line) in its recent performance, which shows that ETH’s bulls are weaker than BTC’s. It can also be seen from the strength of two long green candles in the last week. The week's performance gave back the early gains. Based on the brilliant performance in the previous period, the price did not threaten the low of the year, but it also means that the recent support of ETH is not strong.
Conclusion: Mostly fluctuation. The current situation of ETH is similar to that of BTC. The large-scale bears limits the possibility of a large-scale rise, but the nearly bears is not strong enough to start a new round of decline. We held support level at 1230 and lowered resistance level to 1380. It should be noted that macro conditions such as CPI may change this conclusion.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
We set a resistance level for ETH with the same logic as BTC’s, but ETH still has some distance from the given resistance level (red dotted line) in its recent performance, which shows that ETH’s bulls are weaker than BTC’s. It can also be seen from the strength of two long green candles in the last week. The week's performance gave back the early gains. Based on the brilliant performance in the previous period, the price did not threaten the low of the year, but it also means that the recent support of ETH is not strong.
Conclusion: Mostly fluctuation. The current situation of ETH is similar to that of BTC. The large-scale bears limits the possibility of a large-scale rise, but the nearly bears is not strong enough to start a new round of decline. We held support level at 1230 and lowered resistance level to 1380. It should be noted that macro conditions such as CPI may change this conclusion.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.