Last week, Ethereum’s weekly candle closed bullish, and continued its strong upward trend in early trading on Monday. The current price of Ethereum is 3860 US dollars. The total computing power of the Ethereum network is 705.72TH/s, with 65,289,789 currency holding addresses, an increase of 110,040 compared to the same period last year, and the 24h chain transaction volume is 1,513,367 ETH. The amount burned reaches 563,400 ETH, the amount burned in one week is over 65,000 ETH, a decrease of 9.67% from the previous week. The average price of Ethereum Gas soared to 7,228.54Gwei in a short time, and the reward for a single block reached 216 ETH.
From a technical perspective, Ethereum’s daily candle form head and shoulders. The market’s bullish sentiment confirm that the market will continue to increase. H4 graph shows that the candle reached the middle BOLL band and gained support, RSI showed signs of pressure, and the overall indicator was neutral and strong. Overall prioritise Buy on Low 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 3820.
Resistance：3970-4030-4200
Support：3820-3750-3640
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