FTSE 100 UKX breaks level 7500 as it may start a new rising trend

Azeez Mustapha

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Hong Kong Stock Exchange sets to list CSOP Asset Management’s Ethereum ETF

Following the Hong Kong Security and Futures Commission (SFC) establishing an application opportunity for willing Exchange Traded Funds (ETFs) providers, CSOP expressed its keen interest in providing Ethereum ETFs for traders.

The SFC recently granted the CSOP’s application final approval. On December 16, this year, the Bitcoin and Ethereum Futures ETFs will finally be listed on the Hong Kong SFC. This development will likely lead to an increase in the number of orders for buying and selling the two underlying coins, ETH and BTC.

Key Ethereum Levels To Watch – December 13

Resistance Levels: $3581.60, $3068.60, $2015.50
Support Levels: $1027.00, $879.80, $715.00

https://www.tradingview.com/x/pIaJquL9

The market has been descending from the crest of the 3581.60 supply zone. ETHUSD continued downward until the $879.80 demand zone was reached. Following the rejection at the 879.80 demand zone, the price rose to form a double-top pattern in July 2022.

Momentum tends to be decreasing slightly as the price approaches the discount range at the 78.60% Fibonacci retracement level, which is defined by the current trading range of $879.80 and $2015.50. The MACD indicator has finally shown signs of change of character as it heads upward to break the zero line. As the MA Cross and the MACD indicators signal buy, the bulls might eventually instigate a price rally to the upside until the $3068.60 supply zone is reached.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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