It pumped last month because of the merge and now it's hovering because the momentum has been moved to other assets in my opinion and of course not just ETH not moving so well, bitcoin as well. It's just matter time that we see ETH to recover again hence we are still in bear market season. So it's expected for the price to remain stable, for now.
Nah, I don't think the merge has made a noticeable effect on ETH price. It seems like there are no good improvements/innovation that could be impactful enough to change the course of the whole crypto market these days, especially during the surging inflation and economic problem that we're currently facing globally.
It would be most likely that the crypto market would recover late in 2023 or early 2024 or even after the Bitcoin halving.