News of the delay in the second half of 2022 of Ethereum’s transition to a proof-of-stake (PoS) consensus system, which was initially expected around June, had a negative impact on Ethereum’s price.
Some investors, who maybe had accumulated in this step before the “Merge”, probably liquidated some positions by virtue of this probable delay.
All in all Ethereum closed the week with a very limited loss of 0.15% having formed a bar defined by the most experienced “Hammer” technical analysis on Monday April 18th – as we have indicated in the graph – and made a minimum there on that day in the area $ 2,885 which now becomes support (green horizontal line on the chart). However, prices were rejected by the supertrend located in the $ 3,162 area. Ethereum is currently quoted at $ 3,090.
Bitcoin, on the other hand, gained 1.50% in the area of $ 41,800 during the week, having also made a minimum on Monday 18th April in the area of $ 38,440, the supertrend forms the resistance in the area of $ 42,150.
A news of recent times, after the entry of Ape coin on Coinbase, is that, according to some people, the owners of the Ntf Bored Ape and Mutant Ape could receive virtual lands of the Metaverse and it made this cryptocurrency go up a lot and relaunched the interest in Non-fungible tokens.
We conclude by saying that there is no significant news on the interest rate front except the words of the Federal Reserve’s hawk Bullard about a rise that is too slow and that, according to him, should become more incisive and about the war in Ukraine still stalled. Certainly, the adoption of cryptocurrencies with both the pandemic and the war has accelerated.