Once a pure inflation coin, ETH seems to be returning to its roots. But experts believe it will be a deflationary asset after the implementation of The Merge.
The sharp price drop in Q2, 2022 has raised many questions about Bitcoin's role as a hedging asset. ETH has even performed worse with depleted liquidity across all major exchanges.
Ethereum (ETH) is showing signs of bottoming out as ETH price spiked from a key support zone. Notably, ETH price is currently holding above the key support level at the 200-week SMA near $1,196.