In early trading on Wednesday, ETH dropped short-term falling below the $3,000 mark, and rebounded after reaching the lowest point around $2949. Ethereum is currently trading at around $3,050. The total hashrate of the Ethereum network is 579.16TH/s. The number of currency holding addresses increased by 116,868. The transaction volume on the 24h chain was 1,897,028.22ETH. At present, Ethereum has burned a total of 58952 ETH, and the average value burned in a single block is 0.7241 ETH. Fed Chairman Powell: Digital currencies are becoming more and more important.
From a technical point of view, the Ethereum daily candle is closed with two consecutive bearish candle, the RSI shows a downward trend but the overall indicators are still strong. The H4 graph showed that Ethereum has been under the middle BOLL band for a long time and has broken through the previous trend line. However, Ethereum has not broken through the fluctuation zone and the indicators are bearish. Overall prioritize selling at high prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 2900.
Resistance：3100-3240-3340
Support：2980-2900-2770
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