Ethereum quickly rebounded after a rapid drop of $2652 in early trading on Wednesday and is currently trading at $2,845. The total hashrate of the Ethereum network is 674.35TH/s, and the current holding addresses are 63,274,417, an increase of 103,959 compared to the same period last year. The 24h chain transaction volume is 2,346,894 ETH. The total issuance of Ethereum stablecoins reached a record high of US$84 billion. The 2.0 deposit contract address received 7.7457 million ETH, accounting for 6.61% of the current Ethereum supply.
From a technical point of view, Ethereum’s daily candle closed bearish, and formed Death Cross at high position. MACD volume shrink, and bears dominates the market. H4 graph shows an obvious downtrend, the moving average diverges, BOLL is opening downward, and RSI shows signs of stabilizing. Overall prioritize Sell within fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 2910.
Resistance：2910-3000-3100
Support：2760-2650-2500
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