On Tuesday, Ethereum bottomed and rebounded and is currently trading at $4,170. Ethereum developers: The current Ethereum Layer2 Gas usage is less than 1% of Layer1. The total lock-up volume exceeds US$6 billion, a record high. The total market value of stable coins has exceeded 150 billion U.S. dollars.
From a technical perspective, Ethereum’s daily candle close bearish, breaking through MA5, and stabilized at the lower BOLL band. The indicator was neutral but tends to be bearish. On H4 graph, Ethereum rebounded, moving average tighten and showed signs of stabilization, the MACD shrank, and the RSI weakened. Overall, prioritise operation within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 4230.
Resistance：4230-4280-4330
Support：4100-4020-3950
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