Ethereum earns 4 times more than Bitcoin in its best moment since July

What The Merge or La Fusión has not achieved, has been achieved by the general favorable environment unleashed by the good winds on the Fed for Ethereum in what is considered the first real hope to change the current bias of interest rate hikes in USAdespite the uncertainty in the form of risks, with inflation and recession hand in hand, remain in a clearly negative macroeconomic horizon.

The truth is that perhaps for this reason it was already a month and a half after the update was finished and therefore the move to the proof of participation, PoS, which many analysts indicated: that there would be no immediate improvement in pricebut what, with greater scalability, in the medium and long term, it would be reflected in the price. And therefore we see that Ethereum reflects its highest weekly gain of the last three months in the market, with very significant advances as we will see later.

Of course, the joint winds for the crypto market that we already analyzed this week in Bitcoin also greatly help, with that door that opens in the Twitter universe with the exit of the stock market and the arrival of Elon Musk, its new owner, what do you want to implement new possibilities in the microblogging network facing the cryptographic universe.

But in addition to all this, the added value of Ethereum undoubtedly goes through an improvement in its behavior. Coindesk tells us that, since the arrival at the PoS, the supply of this cryptocurrency has increased by 1,300 touches and if it had continued in proof of work the increase would exceed 481,000, with that Ethereum deflation that the entire crypto market is talking about.

Ethereum supply

But technical analysis also comes into play. Experts point out that Ethereum’s upward trend could continue if the asset sustains above the $1,550 support, after correcting earnings. Indicate that the first major resistance appears in the area of ​​1650-1665 dollars. Levels above which a bullish momentum could start.

In its price chart we see how in this case it clearly wins the game against Bitcoin with advances in the last week (until yesterday) of great amount that reflect in Ethereum that has lived its best week since last July. Thus, it gains 11.2% in the last week, after exceeding 18% until yesterday, which turns into advances of 20.6% in the month. In the semester its cuts reach 42.8% while, so far this year, it loses 57.3%.

Ethereum annual value quote

And from the technical indicators that Investment Strategies prepares, the first thing that changes in the case of Ethereum is its bearish wake, which passes to a current state of rebound. This also raises two points Ethereum’s total score reaching 3 out of 10 for the asset on the market. In positive, the upward rotation of the medium-term trend and the volatility measured in terms of its amplitude range, which, both in the medium and long term, moves downward in the market.

On the other side, on the negative, the long-term downward trend stands out, with total momentum, both slow and fast, negative for value and declining business volume, both in the medium and long term.

It must be said that as far as market capitalization is concerned Ethereum is placed in global position 49 with just over 189,666 million dollars, below Broadcom and above Toyota, although the three remain in very similar positions in terms of market value.

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