Ethereum continued its weakness on Monday and is currently trading at 4170. Ethereum: The merger of ETH 1.0 and ETH 2.0 should start in April or May next year. The issuance of stable coins reached US$92.67 billion, the amount of Ethereum burnt was 970,500 ETH, and the total lock-up volume of the L2 network exceeded US$5.65 billion.
From a technical perspective, Ethereum weekly candle closed bearish. The daily graph shows formation of evening star. MA on daily graph shows formation of bearish divergence, and the indicator weakened. On H4 graph, Ethereum fell and broke through middle BOLL band, MA forms Death Cross and the indicators show bearish signs. Overall, prioritise SELL. The chart below is showing the key point and the estimated trend, the deciding point is near 4250.
Resistance：4210-4250-4330
Support：4130-4070-4000
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