Sep.7-Sep.13ETH(1d)Weekly market recap
The crypto-market got a wave of gains last week, and the bullish attitude in some currencies has continued today. And starting this week, economic data, ETH merger, and FOMC will come one after another. The CPI data will be released in a little while, and almost everyone thinks it will fall, but how much will determine the hike at the end of September and the terminal federal funds rate. In two days, the merger of the ETH execution layer will also be launched. We can see from the data on the chain that the funding rate of ETH perpetual futures has shown a large-scale bearish attitude, which may be caused by some people's hedging. This also illustrates the criticality of the merger.
ETH started a new rebound after we published last recap. However,unlike BTC, starting from Sep.11, the price entered a correction and did not continue to rise. Perhaps this is related to the uncertainty of ETH merger. But it also reflects that the bulls of ETH last week did not stronger than BTC’s. In the last week ETH was more like a follower, while BTC was the leader.
Conclusion: Mostly rising. The overall shape of ETH is always in the process of rebound. Although it encountered some problems in the last week, the proper correction will not change anything. We remain bullish on ETH this week. We raised the support level to 1560. Considering last weekend's pullback, we left the resistance level unchanged at 1830.
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.
ETH started a new rebound after we published last recap. However,unlike BTC, starting from Sep.11, the price entered a correction and did not continue to rise. Perhaps this is related to the uncertainty of ETH merger. But it also reflects that the bulls of ETH last week did not stronger than BTC’s. In the last week ETH was more like a follower, while BTC was the leader.
Conclusion: Mostly rising. The overall shape of ETH is always in the process of rebound. Although it encountered some problems in the last week, the proper correction will not change anything. We remain bullish on ETH this week. We raised the support level to 1560. Considering last weekend's pullback, we left the resistance level unchanged at 1830.
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.
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