Ethereum rose slightly in early trading on Wednesday and is currently quoted at $3,510. the total computing power of the entire ETH network is 702.39TH/s, with 64,887,681 coin-holding addresses, an increase of 121,891 compared to the same period last year. The 2.0 deposit contract address has received 7.9386 million ETH, accounting for 6.77% of the current supply, and 4032 ETH has been added in the past 24 hours. Data: Ethereum Bridge TVL reached 14.57 billion U.S. dollars. Vitalik Buterin: Ethereum can surpass Bitcoin as a store of value asset.
From a technical perspective, Ethereum’s daily candle closed the doji continuously, and the moving averages converged at a high postion indicating that the market lacks direction. The indicators are relatively neutral. In the short-term, H4 graph shows the formation of a consolidation triangle structure, MACD is near the 0 axis, and RSI is at around 50. Overall, prioritise operation 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 3440.
Resistance：3530-3580-3670
Support：3440-3370-3270
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