Ethereum quickly broke through the $3,600 mark in early trading on Thursday and is now at $3,660. The entire Ethereum network has a hashrate of 665.17TH/s, and the current holding addresses are 62,829,062, an increase of 119,734 compared to the same period last year. The transaction volume on the 24h chain is 2,695,763 ETH, and the burn volume has exceeded 300,000, setting a record high. The European Union plans to allocate US$177 billion to provide financial support in areas such as blockchain and 5G.
From a technical point of view, Ethereum’s daily candle closed bullish, and managed to stabilise at around the middle BOLL band, breaking through the recent resistance. All indicators show bullish signs.
H4 graph shows that after Ethereum dropped to $3100, it showly increased which indicates that the double bottom pattern was effective. The moving average formed Golden Cross, RSI and other indicators were bullish across the board. 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 3560.
Resistance：3700-3830-3970
Support：3560-3470-3370
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