Ethereum rushed high on Monday but dropped and continued to weaken on Tuesday. Ethereum is currently trading at $4,333. The total computing power of the Ethereum network is 804.74TH/s, with 68,550,218 coin holding addresses, 3,631,285 ETH on-chain transactions in 24h, over 900,000 ETH burned, and Ethereum Bridge TVL reaching 25.33 billion U.S. dollars.
From a technical perspective, Ethereum’s daily candle closed with doji star, and fell sharply in early trading. The moving average forms Death Cross. On H4 graph, the market formed triangular downward pattern and broke through the lower BOLL band. All indicators show bearish signs. Overall prioritise Sell. The chart below is showing the key point and the estimated trend, the deciding point is near 4400.
Resistance：4400-4460-4520
Support：4300-4250-4100
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