Ethereum, which has a recent “Merge” update, has dropped by nearly 20% in the last 7-day period. We have reviewed the technical view of Ethereum for you.
Although the Ethereum price has lost nearly 20% in the last 7-day period, according to data from on-chain data and analytics platform OKLink, Proof of Work (PoW) from the system Proof of Stake (PoS) During the transition to the system, the number of “staked Ethereum” continues to increase.
In this case, it means that the expectation of the price to rise until the transition period continues.
Ethereum Technical Analysis/1-Day Chart
Ethereum, which is above its 50-day moving average 2,000 dollars taking a reaction from the resistance at the levels 1530 down to $. With the Merge update approaching More than 2x rise in case the living Ether fails to stay on the MA50 1250 dollars levels are expected to decline.
In case of rising again, Ethereum 2000 dollars levels are expected to react. 2,000 With the passing of the dollar levels, the Ethereum 200-day moving average is located. 2,220 It can show a bullish performance up to the dollar.
- The information contained in the content is definitely not investment advice.