Ethereum rebounded and stabilized on Wednesday and is currently trading at around $4,270. The outflow of the Ethereum from exchange rose to a record high. The amount of ETH burned reaches 927,800 ETH. Yesterday, the burned amount was 12,144.68 ETH, a decrease of 11.33% from the previous month. The Ethereum Bridge TVL reached 23.82 billion U.S. dollars.
From a technical perspective, the daily graph shows that Ethereum reached the bottom BOLL band. The indicator shows bullish and bearish signals. H4 graph shows that the daily graph was under pressure below the middle BOLL band, MACD moved downward, RSI is at around 40, and other indicators show bearish signs. Overall, prioritise operation within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 4350.
Resistance：4350-4400-4450
Support：4200-4130-4050
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