In this episode of NewsBTC’s daily technical analysis videos, we examine the price action in Ethereum following the Merge upgrade in both the ETHUSD and ETHBTC trading pairs. Take a look at the video below: VIDEO: Ethereum Price Analysis (ETHUSD): September 15, 2022 Overnight last night, the Ethereum Merge upgrade occurred. As many expected, it turned out to be a sell-the-news event for the second-ranked cryptocurrency and has fallen by more than 10% intraday on the USD pair. Related Reading: WATCH: Bitcoin Bear Market Corrective Patterns Examined | BTCUSD September 14, 2022 ETHUSD Pair Turns Bearish Post-Merge On daily timeframes, things continue to look bad for Ethereum and other top crypto assets. The stock market is also in danger, adding stress to the entire situation. ETHUSD on daily timeframes could be forming a head and shoulders top, just as LMACD crosses bearish. More downside could be necessary where the Relative Strength Index would hopefully find support at a lower trend line. Ethereum sold off sharply after The Merge update was completed | Source: ETHUSD on TradingView.com The Remaining Bullish Signal On Ethereum Weekly Charts Turning on the Ichimoku gives Ether bulls at least some hope of hanging onto recent gains. Finding support in the Ichimoku cloud could lead to renewed energy and a retest of highs. The Ichomuku on Ethereum weekly charts also is trying to find support above the Tenkan-sen. Sl...
