empty
 
 
30.01.2023 12:11 PM
Technical Analysis of ETH/USD for January 30, 2023

Crypto Industry News:

France recognizes the influence of influencers and plans to regulate the digital world a bit. In March, a bill containing stricter rules for influential people will be sent to the National Assembly. Among the measures discussed were: a ban on the promotion of plastic surgery and drugs, as well as risky financial investments, including cryptocurrencies.

The decision to introduce the new rules came after French Economy Minister Bruno Le Maire drew attention to fraud and misleading advertising promoted by numerous celebrities on social media. Now, a political agreement on the matter between President Emmanuel Macron's party (Renaissance) and the socialists in parliament promises to regulate the sector in the spring. "Influencers have a lot of power, so they have a lot of responsibility. France has advertising laws, but they are not sufficiently respected and need to be strengthened," Le Maire said this week. "There are interesting proposals from parliamentarians, we will try to agree on a common front."

The regulations come at a time when the online influencer industry is booming around the world, with companies shifting money from TV advertising budgets to so-called content creators known as influencers, who promote products and services to millions of young followers on platforms such as Instagram, YouTube, TikTok and Snap. France boasts that the influencer industry is worth several hundred million euros. In addition to traditional luxury goods such as cars and clothes, influencers also promote a range of dubious products such as diet pills, plastic surgery and cryptocurrencies.

Technical Market Outlook:

The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The market continues the corrective cycle to the downside as there is still wave C missing to complete this cycle. The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly.

This image is no longer relevant

Weekly Pivot Points:

WR3 - $1,834

WR2 - $1,702

WR1 - $1,628

Weekly Pivot - $1,570

WS1 - $1,496

WS2 - $1,438

WS3 - $1,307

Trading Outlook:

The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $8000 lebih lagi!
    Dalam Mac kami membuat cabutan bertuah $8000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 100%
    Peluang istimewa anda untuk menerima bonus 100% pada deposit anda
    DAPATKAN BONUS
  • Bonus 55%
    Dapatkan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget