The floppening? Ethereum worth weakens post-Merge, risking 55% drop towards Bitcoin

‘s native token Ether (ETH) has been forming an inverse-cup-and-handle sample since Might 2021 on the weekly chart, which hints at a possible decline towards (BTC).

weekly worth chart that includes inverse cup-and-handle breakdown setup. Supply: TradingView

An inverse cup-and-handle is a bearish reversal sample, accompanied by decrease buying and selling quantity. It sometimes resolves after the value breaks under its help degree, adopted by a fall towards the extent at a size equal to the utmost peak between the cup’s peak and the help line.

cup-and-handle sample. Supply:
ETH/BTC weekly worth chart that includes cup-and-handle breakout setup. Supply: TradingView