Ethereum reached a new high on Wednesday, hitting $4,664 followed by a drop. The total computing power of the Ethereum network is 750.48TH/s, holdings increased by 199,477 coins, and a transaction volume of 2,660,905ETH. 14,894.41ETH was burned yesterday, and records more than 10,000 ETH burned for nine consecutive days.
From a technical perspective, Ethereum daily candle continued to close bullish, the moving average diverges upward, and the indicators are bullish across the board. In H4 graph, Ethereum forms a 45° upwards movement, the BOLL opened upwards, the MACD energy volume increased, and the RSI move to a strong area. Overall, prioritize operation in the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point near 4460.
Resistance：4660-4720-4800
Support：4520-4460-4360
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice