On Friday, Ethereum rose short-term, breaking through $3200 and is currently trading at around $3220 with an intraday increase of 2,1%. The total computing power of the Ethereum network is 582.22TH/s, the current holding address has increased by 108,209, and the transaction volume on the 24h chain is 2,080,067.57 ETH. The Ethereum 2.0 test network Pyrmont successfully upgraded the Altair hard fork, and the 2.0 deposit contract balance exceeded 7 million ETH. The total value of ETH burned by Ethereum exceeded 200 million US dollars.
From a technical point of view, Ethereum’s daily candle is closed bullish, and MA converges. The upwards channel is completed. H4 graph showed that Ethereum undergoes correction on high position and formed a W pattern short term. MA converges and form Golden Cross, MACD shows a reduce in volume. Overall prioritise Sell on High on fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 3210.
Resistance：3290-3340-3430
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