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Despite being the most significant event in the history of its chain, the Ethereum merge has since failed to influence a positive price reaction for the leading altcoin, Ether [ETH]. According to data from CoinMarketCap, moments after the merge, the price of ETH rose to a high of $1634, after which it declined steadily. As […]
According to data from, moments after the merge, the price of ETH rose to a high of $1634, after which it declined steadily. As of this writing, ETH exchanged hands at $1,289.27, declining by 21% since the day of the merge.
As of this writing, $171.92 million were taken out of the ETH market in the last 24 hours, as per data from Coinglass.At press time, ETH traded at $1,289. As pointed out above, the leading alt has posted a double-digit decline since the merge occurred four days ago. A price/ trading volume divergence was underway at press time as data from CoinMarketcap revealed a significant rally in the asset’s trading volume in the last 24 hours. It was up by 98%. This was suggestive of buyers’ exhaustion.Key indicators on the daily chart pointed to significant selling activity for the leading alt at press time. On a steady decline since the merge and far from the 50-neutral spot, the Relative Strength Index was 33 at press time.
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