Ethereum bottomed out and rebounded to a minimum of 3890 on Thursday, currently fluctuating at 4000. The total computing power of the Ethereum network is 736.16TH/s, with 66,243,753 coin-holding addresses, an increase of 171,539 compared to the same period last year. The transaction volume on the 24h chain is 2,494,725 ETH, and the total burn volume is 650077.48 ETH, an increase of 27.46%. The Ethereum Bridge TVL reached 16.45 billion U.S. dollars.
From a technical perspective, Ethereum’s daily candle closed bearish and broke under $4000. The upwards channel remains intact. The indicators did not show much downwards signal. H4 graph shows that Ethereum weakened, breaking through the middle BOLL band and stabilize on the lower BOLL band. MACD dropped to near 0 axis. 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 4170.
Resistance: 4040-4100-4150
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