ETH may consolidate as Merge excitement wears off, says expert

) prices last week, the cryptocurrency may now be treading in a consolidation phase, says asset management firm IDEG’s chief investment officer.

The thesis has been based on macro factors and price analysis of the cryptocurrency, noting that the Fed still continues to “ramp up its Quantitative Tightening program which drains liquidity,” while noting that ETH’s prices had reached technical resistance at around $1,800. Speaking to Cointelegraph on Tuesday, IDEG chief investment officer Markus Thielen noted that the recent price rally has not been supported by a change in fundamentals.

Thielen also commented on the interesting correlation between ETH price and Ethereum Merge Google search results that is currently at play:

Source: Digital Coin News (digitalcoinnews.net)

Bullish for $ETH. I think the project will explode very soon, so now is the best time to spend usdt to buy

That doesn't stop me. I continue to actively spend usdt to buy $ETH

Bitcoin 🔻🔻🔻🔻🔻

I think it can cost more usdt soon

Overall, still doesn’t look good. But long term… Bullish. 🚀

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