Bitcoin, which has risen close to 10% in the last 7-day period, rose to the level of 23 thousand dollars, while Ethereum increased by 40% in the past week.
With the date of Ethereum’s long-awaited “The Merge” update gradually becoming clear, there has been great activity in Ethereum. With the rise of Ethereum, where many altcoins use its infrastructure, the crypto money market has seen a rise in general.
Ethereum Technical Analysis
Ethereum, which has risen close to 40% in the last 7-day period, at the time of writing. from $1538 is being traded. With the general decline in the cryptocurrency market to $850 levels Ethereum, which declined by as much as $ 990 daily, traded at these levels for a short time and rose above $ 990 on the daily.
After watching for about 1 month between $ 990 and $ 1270, it recently reached its range target by breaking this range region upwards. However, Ethereum, which has not yet touched the falling trend from $ 4000, for 1700 dollars expected to continue its upward trend.
Current deskek levels on Ethereum; $1270, $1130 and $990, current resistance levels are $1700 and $2000.
Announcing that he stopped withdrawal and transfer transactions about 1 month ago, Cryptocurrency lending and staking platform Celsiusabout the 104,000 Ethereum to the FTX exchange Its porting caused speculation among users.
The depreciation of stETH, which is allegedly invested by Celsius, which is claimed to have more than 12 billion dollars in the platform, depreciated by 4.5% more than normal, which put the company in trouble. After the news of the company, which had to sell many Ethereum to pay its debts, fell on the market, Ethereum experienced a much more decline than Bitcoin.
ETH/BTC
Ethereum has performed better against Bitcoin lately. The next resistance zone in the parity, where the 0.0647 level, which is the resistance zone, is crossed with a volume candle 0.08 looks like. If it reaches this level, it means that Ethereum will outperform Bitcoin for a while.
With the collapse of the crypto money market that started with the Terra crash, Ethereum is at its highest level. close to 80% had fallen all the way down. With the recent rise, the highest level (ATH) 69% Ethereum trading below its highest level 68.4% It has come very close to Bitcoin, which is traded below, as a bearish performance.