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ETHUSDT: Oscillating in the Short Term with High Pressure of Breaking Downward

Central Bank Policy Trends
Summary:

The accelerating pace of tightening monetary policy globally and the tightening of market liquidity keep weighing on risky assets such as cryptocurrencies. Ether is at risk of continuing to break downward.

Sell ETH-USDT
End Time
CLOSED

1350.00

ENTRY PRICE

1010.00

TGT PRICE

1530.00

SL PRICE

1582.21 +7.09 +0.45%

6673

Points

Profit

1010.00

TGT PRICE

1283.27

CLOSING

1350.00

ENTRY PRICE

1530.00

SL PRICE

Fundamentals

Last week the Fed raised interest rates by 75 basis points as expected, and the dot plot projects the Fed's terminal rate for this round of rate hikes to be 4.6%. This means that the Fed will increase interest rates sharply for a while in the future, with other central banks following its pace of rate hikes. The risk of a worldwide economic recession has increased, along with tighter liquidity and increased market volatility. High-yielding and risky assets such as U.S. stocks and cryptocurrencies are at risk of continued sell-offs.
In addition, the crypto sentiment has been weak recently, with Ether losing its previous trend after the completion of the favorable merger. Overall, the price is still in the relay adjustment phase of the bear market, and further decline cannot be ruled out.

Technical Analysis

ETHUSDT: Oscillating in the Short Term with High Pressure of Breaking Downward_1
From the daily chart, ETHUSDT continues its oscillating downward trend and now tends to oscillate after falling to the key support level near 1270, with short-term indicators already blunted. Bears are still accumulating momentum, and the risk of the price continuing to break the level and fall is great. If the price falls strongly below the 1270 line, a new downside will be opened, and the price may hit the 1000 mark again in the coming sessions.
ETHUSDT: Oscillating in the Short Term with High Pressure of Breaking Downward_2
In the 4H chart, ETHUSDT recently continued to maintain oscillating consolidation in the range of 1270-1350. The overall trend is still biased towards oscillation to the downside, and the price may fall below the range in the coming sessions and fall further to the psychological level near the 1000 integer mark.
It is recommended to mainly go short at highs. Go short with small positions after the price rebound to near 1350 and stabilizes, with the short-term target set at the lower support level near 1200, the second target set at the 1000 mark, and stop loss set above 1500.

Trading Recommendations

Trading direction: Short
Entry price: 1350
Target price: 1010
Stop loss: 1530
Support: 1000/1270
Resistance: 1400/1480
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

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Thomas

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I am good at analyzing and interpreting the political and economic situation in Southeast Asia to find investment opportunities.

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Focus on

ETH-USDT, BTC-USDT, USDCNH

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