Ethereum plummeted on Thursday, breaking through the 4000 mark. The total amount of Ethereum stablecoin issued exceeded a record high of 90 billion U.S. dollars, the burned amount was 940,700 ETH, and the bridge TVL reached 24.26 billion U.S. dollars. Data: Most of the miners' income comes from block rewards, not transaction fees.
From a technical perspective, Ethereum daily graph closed bearish, the moving average form Death Cross at a high position and show a clear bearish signal. On H4 graph ETH shows the gradual formation of the ladder bottom pattern, BOLL is opening downward, and RSI indicator is around 35 which is a strong bearish signs. Overall, prioritise SELL. The chart below is showing the key point and the estimated trend, the deciding point is near 4000.
Resistance：4130-4180-4240
Support：4000-3950-3880
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