ETH, post-merge, has taken traders and investors on a thrilling adventure. The value of Ethereum has decreased by a stunning 26.36 percent since the much-hyped Merge. The token’s recovery from June to August was fully erased by this decrease and the market catastrophe on September 13. Fears of a further decline for the token are palpable as the price struggles to break through the 61.80 Fib level, currently at $1,329, following the U.S. Federal Reserve’s interest rate hike announcement. This might indicate that prices will continue to fall. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days ETH On A Downward Trajectory There was a precipitous drop in ETH’s price from September 13-19, fairly dissimilar to the drop in May and June but far lower in magnitude. The result is the same, though; a dramatic drop in investor trust in both the token and the ecosystem as a whole. The ETH TVL hasn’t improved much after the switch to proof-of-stake. It fell from $34.63 billion to $30.38 billion between September 13th and 19th, the same time period as last year, which is a massive decline of 12.27%. As of this writing, the price of the coin oscillates above and below the $1,300 area. This can be understood as a continual conflict between bulls and bears. Additionally, ETH encountered a rejection wick earlier today, September 26. However, this bearish trend could be short-lived. Related R...
