2 years ago
Date: 25 Aug 2022 - 13:07

Ethereum was back above 1700 in Thursdays session as the date for the longawaited Merge was finally confirmed. A blog post from the Ethereum Foundation stated that the event will begin on September 6 and be completed between September 10 and 20. Bitcoin also moved marginally higher as it continued to approach 22000.13Bitcoin13Bitcoin BTC rose higher on Thursday as the token continued to rebound following a recent bearish streak.1313The worlds largest cryptocurrency surged to a high of 21789.64 today breaking out of a key resistance level in the process.1313This resistance level was at 21600 and has mostly held firm despite several breakout attempts this week.13131313As of writing earlier gains have somewhat eased with bulls appearing to have chosen to secure profits rather than maintain previous positions.1313BTCUSD is currently trading at 21662.44 which although is still above the ceiling sees the token over 100 lower than todays peak.1313Todays rally comes despite the 10day red moving average continuing to trend in a downward direction.131313Ethereum13The big crypto story on Thursday was with ethereum ETH which once again climbed above 1700 earlier in the day.1313ETHUSD raced to an intraday high of 1712.55 during todays session as markets reacted to the latest news surrounding The Merge.1313In a blog post late on Wednesday the Ethereum Foundation stated that Following years of hard work Ethereums proofofstake upgrade is finally here The successful upgrade of all public testnets is now complete and The Merge has been scheduled for the Ethereum mainnet.1313They added that the event will commence on September 6 and end between September 10 and 20.13131313As a result of the announcement ethereum briefly broke out of its resistance level at 1705 with the relative strength index RSI also climbing.1313The RSI moved past its ceiling at 49.50 and as of writing is tracking at 50.85 which is its strongest reading since August 18.1313Should todays rally continue traders will likely be targeting an exit close to the 1800 level.1313Register your email here to get weekly price analysis updates sent to your inbox1313Will we now see bearish sentiment rise in ethereum in the coming days Leave your thoughts in the comments below.

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USDT Market Price Change (24H) Market Cap Last 7 Days
39997.79 $ 0 % 760.32 Billion $
3001.33 $ 0 % 360.05 Billion $
1.001 $ 0 % 82.65 Billion $
398.86 $ 0 % 59.29 Billion $
1.004 $ 0 % 50.96 Billion $
101.49 $ 0 % 33.28 Billion $
0.122 $ 0 % 31.52 Billion $
0.7024 $ 0 % 30.96 Billion $
82.96 $ 0 % 29.44 Billion $
0.9455 $ 0 % 29.42 Billion $

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