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Ethereum (Cryptocurrency)

Merge to the Splurge - Inflation and Inflated ExpectationsLots of things happening in finance today. US inflation is at 8.3% (higher than expected with no end in sight), which tanked both crypto and the stock market at the same time. Goes to show that there's still a lot of overlap between the two right now. Also coming up is the much anticipated "merge" on Ethereum (going to happen some time this week, according to Vitalik), which will finally migrate their chain from proof-of-work over to proof-of-stake. As interest rates start to get hiked further, crypto coins will likely need some sort of staking mechanism to survive - or at least offer some kind of utility beyond marketing hype. Some things to keep in mind: - The "merge" is not likely to affect ETH's gas prices, since that comes later during the "sharding" phase. Until then, most dApps created on the ETH ecosystem will still largely sit idle/abandoned. - During recessions, cash is king - and the coins that resemble that the most (projects that are used as currency, rather than speculation) is likely to perform better overall. That means coins that leaned into the "store-of-value" idea (and have oversaturated mind-share) may be in big trouble - which includes Bitcoin, as well. - Many Web3 "fintech" startups (including some very big ones) operated under the assumption that BTC/ETH was going to go up forever - some already made headlines this year as they imploded on itself after the downturn, but we're likely to see more of them pop up as we get further into the winter as a whole. - Coins that offer substantial staking rewards (Tezos, Algorand, Cosmos, Solana, TRON, etc.) are outperforming the banks right now by a very large margin, and may be a good position to grow as the banks continue to drag their feet. Holders of coins that were reliant on the "perpetual growth" model in order to offer staking rewards will likely see their rates shrink over time. (If they're desperate enough, it may even go negative. 😨) - ETH2 coins are, by default, "locked up" for an indeterminate length of time - lots of people signed up to be validators during the December launch in 21' but the legality of it will likely be in question. As the market dips further, many will want to liquidate and there will be more pressure put on the ETH team to do so. (If not, a few class-action suits may be in the pipeline.) - What happens to the miners after the "merge"? Up until now, ETH was by far, the most reliable and profitable coin to mine, but that will go away, overnight. Some competitors are trying to use the opportunity to fracture the ETH community by offering their own places to mine, but longer-term, PoW's real value lies in their ability to allocate their processing power to "useful" mining. (e.g. Gridcoin, Golem, etc.) We may start to see a shift in favor of those types of projects after miners start to do more research on their own. Long story short, the projects that were reliant on perpetual fundraising are likely to be out - replaced by projects that have revenue/profits and greater sustainability. The crypto winter may be brutal for some, but the silver lining is that we may finally get to see a crypto ecosystem that prizes utility and sustainability over short-term hype. It's going to be a crazy time either way - good luck, folks.
Long
by RyanTanaka
ETHUSD set to extend its downtrend? Thank you for tuning in for Wednesday’s update. Today’s video analysis focuses on ETH. We also have a quick recap of some key FX moves we’ve seen since yesterday, including the USD run into new 2022 highs and the JPY crashing to 22-year lows. Some top 10 coins broke lower yesterday, but ETH held out after an impressive 5% rally in yesterday’s Asian session. This rally faded out, but we did see 1540 hold. Today has been a very different story with heavy selling so far this session. Sellers have not only beaten 1540 but are also starting to threaten 1470 support. If we see a move through 1470 and a break of the 1419 low, we will look for the downtrend to continue. Normal trend conditions will be met with a new LL backing up the last LH. What do you think? Do you agree? Do you think ETH will bounce at support, or have we missed something? We are always happy to hear feedback from other traders. Enjoy your Wednesday, and good trading.
EIGHTCAP:ETHUSDShort
by Eightcap
ETHUSDT - WATCH OUT, Bearish Pattern ❗Hi Traders, Investors and Speculators 📉📈 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 I'd like to point your attention to a bearish pattern forming on the 1D timeframe on Ethereum , a Head and Shoulders pattern is busy forming the final right shoulder. It's always tricky to say exactly where the pattern will correct to, but it is usually close to the zone where the pattern start's. This would give us a target between $1100 - $1200. A break above the head would invalidate this pattern ($2000). NOTE that this pattern may take some time to play out, since the last shoulder is still forming. To consider a bullish reversal, we'll need to see a reliable bottom pattern form on a higher timeframe: If you're interested in additional ways to make money with Crypto, check out this idea: If you're interested in what affect the Russia-Ukraine war might have on the Euro in the coming winter months, and how this relates to Bitcoin, check out this idea: Thank you for watching, tune in again tomorrow ! _________________ 👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎 👍Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Short
by Crypto-Check-
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