Ethereum strengthened in early trading on Monday, met resistance at around 3170 and weakened. It is currently quoted at 3120 USD. The total hashrate of the Ethereum network is 681.88TH/s, and the current holding addresses are 63,630,830, an increase of 92,318 compared to the same period last year. The transaction volume on the 24h chain is 3,481,972 ETH, and the burning volume is 372,900 ETH. The burn volume of ETH in the past week exceeded 46,000. The month-on-month increase was 5.4%. The total circulation of Ethereum stablecoins exceeded US$85 billion, a record high.
From a technical point of view, Ethereum’s daily candle is still in a downward trend, and got the support from the lower Bollinger band. H4 graph shows that the BILL is flat, the moving average forms golden cross at the bottom, RSI is near 50, and the overall indicator is neutral. Overall prioritize operation within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 3170.
Resistance：3170-3210-3300
Support：3010-2940-2730
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