On Thursday, Ethereum surpassed $4371 and then quickly fell back, and it is currently trading at around US$4130. The total computing power of the Ethereum network is 708.26TH/s, and the holding addresses are 65,640,222, an increase of 147,352 compared to the same period last year. The transaction volume on the 24h chain is 2,728,554 ETH, and the burn volume is 594,500 ETH. The burn volume yesterday was 8096.03 ETH and the burn volume per day show an increase of 16.11% compared to last month. The total NFT sales on the Ethereum chain exceeded USD 8 billion, a record high.
From a technical perspective, the daily gold candle reaches the peak and there is a strong pressure from the top. Currently, the indicators do not show signs of weakness. H4 graph shows that BOLL is opening up, short-term MA forms Death Cross, MACD and RSI remains good. 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 4000.
Resistance：4230-4270-4370
Support：4090-4000-3850
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