ETH Rebounds on Thursday, Less Than a Week Before ‘The Merge’ – Market Updates Bitcoin News

Ethereum was back in the green on Thursday, as bulls returned to action following yesterday’s sell-off. The token rose by over 8% in today’s session, as prices once again climbed above the $1,600 level. Bitcoin also rebounded in today’s session, moving back above $19,000. As of this writing, the crypto market is trading at 4.39% more.


After slipping to a multi-month low on Thursday, bitcoin (BTC) rebounded in today’s session, as prices rose back above $19,000.

BTC/USD rose to $19.427.17 intraday earlier today. This comes just 24 hours after the bottom of $18,710.09.

Bitcoin recovered from the lowest level since June 18th, and is now trading at $19,200.

Bitcoin, Ethereum Technical Analysis: ETH Rebounds on Thursday, Less Than a Week Before 'The Merge'
BTC/USD – Daily Chart

The chart shows that the relative strength indicator (RSI), is currently in an oversold area. It was tracking at 34.84 at time of writing.

Should the token rise further, there is a limit of 38.00. It may be a barrier to price increases.

If BTC continues to move above this point bulls could look to bring prices to around $20,000


Ethereum (ETH) was back in the green, as bulls once again re-entered the market, buying yesterday’s dip in the process.

Following a low of $1,505.95 on Wednesday, ETH/USD raced to an intraday peak of $1,651.05 during Thursday’s session.

The move comes as ethereum bounced from its floor of $1,550 earlier in today’s session, after a false breakout below this point yesterday.

Bitcoin, Ethereum Technical Analysis: ETH Rebounds on Thursday, Less Than a Week Before 'The Merge'
ETH/USD – Daily Chart

While bulls remain focused on $1700 as their ceiling, volatility in the price of gold has increased following a break above $1614.

ETH is now down from its earlier highs. This can be attributed to potential profit taking by bulls who opted for gains.

The token trades at $1622.92 today, less than six business days before The Merge event.

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Is ethereum likely to reach $1,700 by the end of this week? Comment below to share your views.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.

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