Ethereum price ran into insurmountable resistance at $1,280 following the Sepolia testnet Merge, leading analysts to predict a return to the $1,000 level.
shows that following the Sepolia Merge on July 6, the price of Ether rallied to a high near $1,280 on July 8 but has since trended down to hit a daily low of 1,153 on July 10.nearing the home stretch in its shift to PoS, here is what analysts are saying could happen with its price in the short term.
“PA is still showing clean rejection of the range-high. Potential bull-flag being formed . If we continue bleeding below flag support, $1,020 is coming.”A potentially bearish formation on the chart for Ether was pointed out by analyst and pseudonymous Twitter user Profit Blue, whoBTC and ETH are forming the same double top pattern and bearish PA.”“More downside is likely, pay attention to the important levels in this chart.
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