Ethereum reached a new high on Tuesday, testing a new high at around 3230, and fell back in early trading on Wednesday. The current price of Ethereum is 3160. Ethereum's current total network hashrate is 567.53TH/s, the total network difficulty is 7.60P, and the 24h chain transaction volume is 2,720,548.62ETH. Ethereum has burned a total of 25434 ETH, and the average burn value of a single block is 0.705 ETH. The Ethereum 2.0 test net Pyrmont will undergo an Altair hard fork on August 19.
From a technical point of view, the upward channel of Ethereum is complete, and there is no sign of correction. The indicators show bullish signs. H4 graph shows that Ethereum reached top position twice, the moving averages converges, but the market lacks momentum to strengthen. The RSI indicator and MACD both show bullish signs. Overall prioritize buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 3030.
Resistance：3220-3280-3350
Support：3090-3030-2900
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