Ethereum remained weak on Wednesday, testing 2781, quickly broke through 3000 points in early trading on Thursday and is currently trading at $3,030. The total computing power of the Ethereum network is 679.80TH/s, the holding address is 63,766,347, an increase of 96,793 year-on-year. The 24h chain transaction volume is 1,673,014 ETH, and the burn volume is 396,100 ETH and the burn volume yesterday was 6954.9 ETH, and the daily burn volume increased by 18.45%.
From a technical perspective, Ethereum’s daily candle maintains a bottom ladder. Ethereum has been on the lower BOLL band for a long time. MA5 and MA10 converges and lack direction. The overall the indicator showed bearish sign. H4 graph shows that ETH has repeatedly bottomed but failed to breakthrough due to strong support. MA forms golden cross, the indicator has certain signs of stabilization. Overall, prioritise Sell within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 2950.
Resistance：3080-3160-3300
Support：2950-2800-2720
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