Ethereum Faces Test Of Survival After Merge, Can $1,400 Support Hold?

After showing so much strength as the price rallied from $1,024 to a region of $2,000 against tether (USDT) ahead of the anticipated merge, many call for a bull run and a $4,000 Ethereum price at the end of the “Ethereum Merge.” The price of Ethereum has not shown that run it showed in recent months as the price has struggled to break above $1,800. (Data from Binance) Related Reading: Why Cardano (ADA) Could Be Registering Another Decline, Analyst Explains Ethereum (ETH) Token Price Analysis On The Weekly Chart ETH saw a decline in its price from $4,500 to around $1,024, with an over 70% drop from its all-time high despite having good fundamentals. The price of ETH bounced off after touching a weekly low of $1,024, and the price rallied to $2,000, showing some great strength ahead of the scheduled merge, but the price was quickly rejected as this area acts as resistance for the price of ETH. The price of ETH on the weekly chart formed an uptrend line as the price continued to respect this support line bouncing off to maintain its bullish run, but the price of ETH broke this trendline after a while, creating mixed feelings in the heart of many holders of ETH. ETH’s price is trading above the key support of $1,400; the price of ETH needs to hold above this support to avoid the price going lower to its weekly low. With the price of ETH holding this support, we could have the chance of trading higher to a region ...