Ethereum ETH price regained its bullish trend against Tether (USDT) as it builds more strength to break above the key resistance ahead of “The Merge.” ETH price saw a rejection to a region of $1,500 recently as it could not hold its bullish trendline acting as support. (Data from Binance) Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks Ethereum ETH Price Analysis On The Weekly Chart From the chart, the price of ETH saw its price rejected to a region of $1,540 on the weekly chart as the price was unable to hold $1,700 and the trendline acting as support for ETH price. ETH weekly candle closed with a bearish sentiment, with the new week’s candle looking bullish for price recovery. The price has continued to gain traction, outperforming Bitcoin’s (BTC) as ETH price shows strength, trying to flip resistance into support for the price to trend higher. If the price of ETH on the weekly chart maintains this structure, it could quickly trend higher to a region of $1,800, acting as the weekly resistance for the price. To avoid falling below, the price of ETH needs to hold this support zone at $1,700. Weekly resistance for the price of ETH – $1,800. Weekly support for the price of ETH – $1,700, $1,600. Price Analysis Of ETH On The Daily (1D) Chart With more buy orders, the price of ETH would continue to trend to the upside after forming support above the uptrend lin...
