🔥 Ethereum Post Merge Sell-Off: $1000 Target

A couple of days ago I made an analysis on ETH and the fact that it was selling off after the merge. As initially assumed, it was a buy the rumor - sell the news kind of event.

My first target, the dotted purple support, was hit fairly quickly after my last analysis. I expected a minor bump from that area, but it failed to hold and ETH fell through it. This is a clear signal of weakness.

In my view, ETH is preparing to make a push towards the yellow demand area, most likely towards $1000 or below.

We're severely oversold at the moment, so I'm expecting a minor bullish correction in the near future. Might be a good time to scale in shorts in case you're bearish.