Ethereum (ETH) Miner Balance Hits Four-Year High Ahead of Merge
Ethereum (ETH) has been increasing at a much faster rate than Bitcoin (BTC) and is up by more than 50% since the June lows. ETH had been decreasing underneath a descending resistance line since Dec 2021. The downward movement led to a low of ₿0.049 in June.
However, the price has increased sharply since and managed to break out from the line in the end of July, proceeding to reach a high of ₿0.081 in Aug. Despite this sharp increase, the daily RSI is showing signs of weakness, since it has broken down from an ascending support line. So, it is possible that it will return to the 0.382 Fib retracement support level at ₿0.069, validating the resistance line as support, before resuming its upward movement.
Source
https://t.me/CryptoMarketUpdates
