ETH/USD Weekly cautiously bearish . *With the merge finally expected to be deployed on Ropsten Testnet around June 8th and then hopefully on the Ethereum Mainnet within the following few months, Terra collapsing and Solana network outages… there is reason for bullishness, but with fears of full blown recession being staked by the US economy being in stagflation it’s generally advised to be risk off unless you’re an investor with a long time horizon.* Recommended ratio: 30% ETH, 70% cash. Price is currently testing $1944 support which is just above the critical uptrend line from June 2020 ($1800). Volume is currently lower than last week’s and on track to favor sellers for a seventh consecutive session. Parabolic SAR flips bullish at $3917; this margin is mildly bullish . RSI is trending down slight at 34.60 and is still technically testing 37.35 but if it doesn’t bounce here then it will likely test the lower trendline of the descending channel from August 2020 at ~32. Stochastic remains bearish and is currently trending down at 3.51 as it will look to touch max bottom in the current or next session. MACD is currently forming a new ATL at -232.81 with no sign of trough formation. ADX is currently trending up slightly at 22 as Price continues to fall, this is mildly bearish . If Price is able to defend support at $1944 then it will likely consolidate before retesting $2361 resistance. However, if Price breaks down here, it will have the uptrend line from June 2020 at $1800 as the last line of support before potentially testing the lower trendline of the descending channel from October 2021 at $1407 support. Mental Stop Loss: (two consecutive closes above) $2361.