Ethereum remained strong on Monday. The total computing power of the Ethereum network is 1014 TH/s, a record high. There are 67,665,778 coin-holding addresses, an increase of 159,206 compared to the same period last year. The 24h chain transaction volume is 934,778 ETH, the amount of ETH burned is 797,900 ETH, and the burn rate is 5.97ETH/minute.
From a technical perspective, the Ethereum weekly graph is closed bullish for five consecutive weeks, and the bulls have laid excellent foundation. The daily graph shows a unilateral upward structure. H4 graph shows that ETH is stable on the middle BOLL band and undergo a V-shaped rebound. The RSI operates in a strong zone. Overall, prioritise BUY within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 4470.
Resistance：4670-4750-4800
Support：4540-4500-4420
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