How Much Higher Will the Price of Ethereum Increase After the Merger?
Since the Merge is anticipated to be finished between September 15 and 20, Ethereum 2.0 is currently in its final stages. Systems on the blockchain will convert from proof-of-work to proof-of-stake as they adopt a new technique for verifying transactions. The innovation ushers in a new, less energy-intensive age for the crypto industry. The Merge is the largest occasion and the most anticipated change in the cryptocurrency sector.
Investors are certain that the Ethereum Merge will increase the value of ETH and provide profits. As the days before the Merge get closer, ETH is seeing an increase in funding. Investors anticipate that ETH will surpass $2,000 before the changeover, but financial specialists believe ETH will decline.
Bitcoin Price Prediction: Will it Reach $2,000 Before the Merge?
This week, Ethereum’s trading has largely been sideways and it is now trading around the $1,700 level. The second-largest cryptocurrency in the world is been trading without any volatility since Monday. CrediBull, a well-known cryptocurrency expert, has forecasted that Ethereum may encounter resistance at $1,900 and continue to decline from there.
Despite the Merge, CrediBull warned his 350,000 followers that Ethereum might not surpass the $2,000 threshold. The expert thinks that the changeover will be another instance of “buy the rumor, sell the news.”
The expert revealed a graph that showed Ethereum’s potential decline to $1,200 levels after reaching $1,900 before the Merge. According to the expert, ETH would decline 36% as a result.
“ETH is now almost reaching my upside objective after rising almost 20% from the rebound zone. Looking once more for a raise of $1,800-$,1900. I anticipate being rejected there, followed probably by new local lows. Although most people don’t want to hear that, the situation is what it is, he said.
At the time of publication, the price of Ethereum was $1,717 and it has decreased 0.7% over the past 24 hours. From its all-time high of $4,878, which it hit in November of last year, the cryptocurrency is down 64.8%.