Ethereum stabilized in early trading on Wednesday and fell sharply on Tuesday, which bring a downward pressure on the market. Currently, it fluctuates around 2490. At present, the hashrate of Ethereum in the whole network is 531.89TH/s, the difficulty of the whole network is 7.27P, and the transaction volume in the 24H chain is 1969763.61 ETH. Most USDT activities on Ethereum turn to European and American office hours. SEC chairman declined to comment on whether Ethereum is a security.
From a technical point of view, Ethereum's relative trend is stronger than bitcoin. The daily line breaks through 2500 and stabilizes above the recent key point 2400. The daily line indicators are still strong. H4 graph showed head and shoulders pattern formed at high position and is under pressure, the MACD volume has shrunk, and the bullish momentum has weakened. Overall prioritize operate on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 2400.
Resistance：2540-2610-2700
Support：2400-2330-2240
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