2018 Ethereum Price Fractal Suggests $400 Low, But Analysts Say Merger Is A 'Wildcard'

Key ETH price indicator suggests altcoin's downtrend may extend to $400, but analysts do not know if the next Ethereum merger will be a bullish or bearish event.
$2018 Ethereum price fractal suggests a $400 bottom, but analysts say the merge is a 'wildcard'$ Market Update
There's no rest for the weary during a bear market, and the Crypto Fear and Greed Index shows investor sentiment has been stuck in a state of 'extreme fear' for a record 70 days consecutive.

As the market looks for a catalyst to reverse the trend, there is little on the horizon aside from the Ethereum (ETH) meltdown that looks capable of sparking a rally. If this is indeed the case, the market could continue its downward or sideways trend until the provisional merger date of September 19.

Data from Cointelegraph Markets Pro and TradingView shows Ether price remains sandwiched in the trade zone it has been trading in since June 13 and is currently bumping up against upper resistance near $1,240 .

ETH/USDT 1-day chart. Source: TradingView
With the merger still months away and nothing else on Ethereum's near-term roadmap, here's what analysts say need to be done be careful.
Ether is now trading above its moving averages
A short message of hope at this significant resistance level was provided by futures trader Peter Br...

Crypto Jul 15, 2022 0 50 Add to Reading List

2018 Ethereum Price Fractal Suggests $400 Low, But Analysts Say Merger Is A 'Wildcard'

Key ETH price indicator suggests altcoin's downtrend may extend to $400, but analysts do not know if the next Ethereum merger will be a bullish or bearish event.

$2018 Ethereum price fractal suggests a $400 bottom, but analysts say the merge is a 'wildcard'$ Market Update

There's no rest for the weary during a bear market, and the Crypto Fear and Greed Index shows investor sentiment has been stuck in a state of 'extreme fear' for a record 70 days consecutive.

As the market looks for a catalyst to reverse the trend, there is little on the horizon aside from the Ethereum (ETH) meltdown that looks capable of sparking a rally. If this is indeed the case, the market could continue its downward or sideways trend until the provisional merger date of September 19.

Data from Cointelegraph Markets Pro and TradingView shows Ether price remains sandwiched in the trade zone it has been trading in since June 13 and is currently bumping up against upper resistance near $1,240 .