Ethereum quickly rebounded after hitting a low of 2788 in Asian session trading on Wednesday and is currently trading $2910. The total computing power of the Ethereum network is 681.77TH/s, the entire network difficulty is 9.14P, the current holding address is 63,766,347, an increase of 100,896 compared to the same period last year, the 24h chain transaction volume is 1,585,373 ETH, the burn volume is 388,700 ETH, and the burn volume yesterday was 8,528.63 ETH, the daily burn volume increased by 40.78% month-on-month. The Ethereum 2.0 client Teku released version v21.9.2.
From a technical perspective, Ethereum forms a bottom ladder and 3160 has become a short-term deciding point whether to buy or sell, and the daily indicators continue to be bearish. H4 graph shows that Ethereum has not broken through the fluctuation zone and continues to be under the pressure of the middle BOLL band. The indicators have not shown bullish signals. Overall, prioritise Sell within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 2980.
Resistance：2980-3100-3160
Support：2830-2780-2650
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice