TA – Ethereum Price Faces Resistance As Merge Date Is Announced

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,592,629,458	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,592,629,458

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000315	0.26%	0.120406	0.120348	0.120397

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000315

0.26%

0.120406

0.120348

0.120397

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.120716	0.118601	0.120091	0.120091	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.120716

0.118601

0.120091

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	14:46:40	11,668.43	0.120406	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

14:46:40

11,668.43

0.120406

USD

Price x Volume	Volume	Base Symbol	Related Pairs
74,724.44	625,510.34	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

74,724.44

625,510.34

TA – Ethereum Price Faces Resistance As Merge Date Is Announced

12/08/2022 3:09pm

NEWSBTC

The price of Ethereum (ETH) showed so much strength but has been hit with resistance against Tether (USDT) as the Ethereum merge is announced. Ethereum price rallied with so much strength from a region of $1,670 to $1,924, as bulls anticipate the Ethereum merge from proof-of-work (POW) to proof-of-stake (POS). Related Reading: Will Ethereum Breach $2,000 Before The Merge? Ethereum merge is an upgrade on the Ethereum network from POW to POS so as to increase its network efficiency in transactions. (Data feeds from Binance) Ethereum Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of around $900, which bounced from that area and rallied to a price of $1,920, this is an over 100% rise in price. The price has built more momentum as it faces resistance at $1,920. If the price of ETH on the weekly chart continues with this bullish structure, it could quickly revisit $1,900 and trend higher to $2,400. Weekly resistance for the price of ETH – $1,920. Weekly support for the price of ETH – $1,012. Price Analysis Of ETH On The Daily (1D) Chart The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart. ETH bounced from its support and rallied as it faces resistance to break above a ranging channel and has continued to move in range. With bulls placing more buy bids this channel was broken pushing ETH price to $1,920. At the point of writing, the price of ETH is at $1,888, above the 50 Exponential Moving Average (EMA) with a price of $1,580. ETH is faced with a price rejection from the $1,920 region, as this has proven to be a resistance preventing the price to trend higher. If ETH price breaks this resistance of $1,920 successfully we could see the price trending higher ahead of the merge. If the ETH price gets rejected, $1,580 which corresponds with 50 EMA will be good support for buys. The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 65, indicating healthy buy bids for ETH. The volume for ETH indicates buy bids, this shows bulls would want to push the price higher. Daily (1D) resistance for ETH price – $1,920. Daily (1D) support for ETH price – $1,580. Price Analysis OF ETH On The Four-Hourly (4H) Chart The price of ETH has continued to maintain its bullish structure despite facing resistance at $1,920 trying to break out and trend higher. ETH is trading above the 50 and 200 EMA with prices of $1,760 and $1,580 acting as its support on the 4H chart, as the price faces resistance at $1,920. If the price of ETH breaks above the resistance with the good volume we could see the price trending to $$2,400, In case ETH is unable to break and experience a sell-off, 50 and 200 EMA prices would act as support for ETH prices. Four-Hourly (4H) resistance for ETH price – $1,920. Four-Hourly (4H) support for ETH price – $1,760, $1,580. Related Reading: Cosmos Hub Soars Over 5% Within 24 Hours – ATOM Up 13% In Last Week Featured image from Watcher Guru, Charts from TradingView.com

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