More ETH is burnt via transaction fees than the amount of new ETH issued. Since the Merge, we have observed a net reduction in the total circulating supply of -410k ETH. Now, This Indicates the lower Circulating supply of #ETH in coming years and eventually impact the price.

#ETH Analysis :

#ETH is been winding up from the downtrend and broken the Major Resistance area of $3532 - $3613. Price already made a retest and hit the flip area too. We need a daily candle closure above the $3680 level so made the road clear for $4,000 level. Else, we'll see some strong consolidations here until #BTC plays are wild move.

#ETH Analysis :

#ETH is been is been retracing a bit from the a strong flip area working as support around $$2,850 - $2,870. This is a newly discovered range where price can move, and next resistance area is at $3,250 - $3,275, where price will reach out in the coming days. Dominance is also decreasing, so alts can rise with the #ETH up move.

#ETH UPDATE :

#ETH approaching towards the resistance and in the higher TF (Daily TF), we can see falling wedge pattern forming, where breakout is still pending. Well, the price looks kinda consolidating alot, and a good sign too. A breakout will the market in the all-season, so eyes on the breakout and #BTC.D too.

#ETH UPDATE :

#ETH still moving inside the falling wedge pattern but its moving closer to the apex point. Price still moving back and forth between the zones and currently, reaching the support. Anticipating a false break below for testing the supporting trendline and a decent push.

#ETH UPDATE :

#ETH breakout of the falling wedge pattern and broke the resistance area too. The move occurred due to the #ETH #ETF news. Now, price hodling above the zone and rejecting the zone as support too. Expected a next leg up towards the resistance area of $4,111 - $4,215.

#ETH UPDATE :

#ETH hodling above the support zone, and shows good confidence in the market. Price build a consolidation range between $3600 and $3960. In between price formed the small downtrend channel pattern, which is breaking now. Expected a push towards the $4111 level.