ETH prices continue to trend downwards as prices remain bearish, with price trading on critical support. ETH trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs as many traders and investors wish for $500. The price of ETH needs to break and hold above the key resistance of $1,400 to initiate recovery signs for the price. The price of Ethereum (ETH) continues to struggle to discover its bullish trend before the “Ethereum Merge” as the price fails to break the key resistance of $1,400 against tether (USDT). Ethereum (ETH) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains. (Data from Binance) Related Reading: Glassnode On Bitcoin Mining: Difficulty Reaches ATH, Profitability Decreases Ethereum (ETH) Price Analysis On The Weekly Chart. Life after post “Ethereum Merge” has not been easy for the Ethereum price, with many traders and investors expecting a rally to a region of $5,000. Despite showing some great price movement in recent weeks, the price of ETH has continued to maintain a downtrend as it faces a crucial test to hold above $1,200 or defer the odds and go lower. After the price of ETH rallied from a weekly low of $900, the price went to a high of $2,013, as many expected the price to form a base or support before ...
