It has been almost two weeks since ETH cryptocurrency switched from POW to POS
What did we get? Movement along the red route from our previous idea, as well as:
- reduction of mining of new coins by -86-90%
- falling ETH price
It doesn’t work out a bit logically. The prospect of a decrease in the supply of Ether in the market should trigger a strong increase in the price of ETHUSD.
Maybe now there is a restructuring of the trading strategy of large deposits taking into account the new data on the minting of new ETH. And in the future, the price of ETH will resume its growth.
However, the truth will be that the launch of MERGE coincided with what we hope is the “final crash” of the crypto market in 2022.
And while the price of BTCUSDT was close to renewing the 2022 low, the price of ETH stopped 27% above the June low.
Also, in the coming days, we expect the price of ETHUSDT to rise to $1575. There is an intersection of several critical levels, so a correction from there will be very likely.