Ethereum prices surge from the low of $980 to a high of $1,743 with so much excitement as regards the merge coming up in a few weeks. With the monthly close, there have been high expectations for the Ethereum price to reach a region of $2,000 -$2,400. Ethereum Weekly Chart The Ethereum price surged from the low $1,012 to $1,743 after several weeks of a downtrend. There was a bit of relief bounce from Ethereum haven traded below the 50 & 200 Exponential moving average (EMA). Ethereum, as of writing, is trading at $1,580 after being rejected at $1,722; Ethereum could not break the weekly resistance ahead of it and closed below, which suggests bulls need to push to break this region for Ethereum price to move higher. The volume on the weekly chart for Ethereum suggests more sales than buys after showing great signs of bulls pushing the prices ahead of the merge. The weekly relative strength Index (RSI) has moved from oversold to 43, indicating decent buying pressure from bulls. The weekly chart for Ethereum suggests it is still in a range of $1,012 to $1,722; breaking the resistance at $1,722 with good volume could easily send the Ethereum price to $2,000 ahead of the merge. Major Weekly resistance – $1,722. Major Weekly support – $1,012 Ethereum Price Analysis On The Daily Chart The daily chart for Ethereum price suggests the resistance of $1,722 rejected it despite trying to break and close above it. Ethereum is...
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