On Tuesday, Ethereum increased and fell back to USD 4340. The amount of Ethereum burned was 1,142,200 ETH, and the amount burned yesterday was 9297.6 ETH, a decrease of 0.44% from the previous month. The total locked-up volume of the L2 network was US$5.91 billion. Three Arrows Capital mentioned that 100,000 ETH is trivial and will buy more in the future.
From a technical perspective, Ethereum’s daily candle closed with a doji pattern on high position, which suppressed the market's bullish sentiment, and the indicator was neutral. On H4 graph, there was a correction at around 4250. Ethereum continued to operate around the middle BOLL band. The indicators show a slightly bullish signal. Overall, prioritise operation within the fluctuation zone. The chart below is showing the key point and the estimated trend, The deciding point whether to buy or sell is near 4250.
Resistance：4390-4430-4500
Support：4250-4170-4050
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