Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow
The Ethereum price showed no positive effect despite the successful completion of the Merge. Over the last 24 hours, the coin depreciated by 2%, and in the last week, Ethereum noted a 17% decline. At the moment, ETH is trading sideways with very little change in price. A further drop in prices would mean that Ethereum could be captured by the bears. Technical indicators have turned bearish at the time of writing. Sellers are dominating at the time of writing, which points towards increased chances of the bears taking over. The current support line for Ethereum was $1,350, and if buyers....
Related News
We’re in a post-merge world, and the lessons keep arriving. As it turns out, the mythical Merge was a sell-the-news event for Ethereum. Technically, the event was a success and Ethereum kept a 100% uptime as optimistically predicted. Economically, the asset has been bleeding for the whole post-merge season. As a result, Ethereum lost ground against bitcoin, and bitcoin dominance is back up. Related Reading: Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow Let’s go to Arcane Research’s The Weekly Update for the exact stats and numbers: “Since the merge, Ether....
Though volatility is a core attribute of cryptocurrency, the swing is quite excessive for Ethereum. The price movement for Ether was progressive from the beginning of the second of the year. ETH gradually surged over the $1,800 level before the Merge. To some reasonable extent, the positive sentiment surrounding Ethereum’s transition from PoW to PoS contributed to the surge. As a result, several participants in the crypto industry tilted towards the second largest crypto asset by market cap. Related Reading: Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow....
What are the professional trader outlooks for the Ethereum Merge? Join us as we discuss this and other topics with Tim Warren, co-host of Coffee N Crypto, and Dan McDermitt In this week's episode of Market Talks, we welcome professional trader Dan McDermitt — a partner and senior analyst at ChartGuys .com.He provides knowledge and feedback toward the development of technical analysis education and is responsible for providing in-depth video reports and teaching those who want to learn how to protect capital and become more profitable. The main topic of discussion with Dan will be the price....
Finally, the Ethereum Merge long-awaited Merge has occurred. As the most hyped historic event in the crypto space, many people projected different sentiments about the upgrade. Parts of the pre-merge reactions were negative. With the official conclusion of the Paris upgrade, popularly known as the Merge, the Ethereum network transited from PoW to PoS. This marked the consolidation of the two separate layers, the execution layer (PoW chain) and consensus layer (Beacon Chain). Related Reading: Ethereum Merge Fails To Move ETH Price, $2,000 Remains Elusive No Immediate Volatility With The....
Ethereum started a downside correction from $1,665 against the US Dollar. ETH could start a fresh increase if it stays above the $1,550 support. Ethereum is correcting gains from the $1,650 and $1,665 resistance levels. The price is now trading above $1,550 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $1,550 support zone. Ethereum Price Remains Supported Ethereum remained in a positive zone above the $1,450 and....