Ethereum Chart

Today’s date is September 26th, 2022 and Ethereum’s current price is $1,312. It has been almost 3 weeks since the update to ETH 2.0 ( The Merge). The issuance of new Ethereum has signficantly reduced since the update and all blockchain operations flowed right through the update making it a very successful event for the network. The only issues many people face is not understanding that the price of Ethereum saw a huge uptrend prior to the update based on “buying the news” trend and now the update has completed the second biggest cryptocurrency is facing the same issues as Bitcoin and other world assets looking towards a recession. Ethereum will not be immune to a possible downtrend further with it already braking the line 1 + 2 trends now aiming for the $1,000 range support ( line 3) and then even the $800 line support ( line 4) . Continuing to monitor closely equity and other markets with gasoline dropping further , while the USD index hits another high with $114. All signs are still showing us entering a possible recession or already inside of one.