On Tuesday Asian market, Ethereum continued its downward trend, and is currently at around 2030. The data shows that there are 142,138 unconfirmed transactions on Ethereum, the current hashrate of the whole network is 491.84TH/s, and the difficulty of the whole network is 6.62P. According to statistics from Dune Analytics, an on-chain data provider, the number of Ethereum (ETH) DeFi users has exceeded 3 million. Since the third quarter of 2019, the number of monthly developers of Ethereum has exceeded that of Bitcoin. From a technical point of view, the daily candle of Ethereum continues to weaken, bearish sentiment dominates the market and there is formation of head and shoulder pattern. H4 graph shows that the market continues to weaken after breaking through the support. 2040 will become a short-term key point. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is 2040.
Resistance：2040-2090-2180
Support：2000-1950-1880
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice