ETH before Shangai, breakdown?

1 Mar 2023

ETHUSD

In the scenario with te Shangai's update in the Ethereum network, aprox 16 million ETHs will be out of stake(~U$25 billion).
That will cause a lot of selling pressure in the market, people could take the loss.

Also, ETH price action seems to converge in a lot of resistence above the 1700s(last bottom, 2021), and different patterns and trendlines the price arrived the top, if a breakdown occurs, the price might go back to the 1300s area at the main trendline