Price Analysis

Trade Set-up For Ethereum Ahead of Merger, What to Expect from ETH Price By the End of September?

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

Sep 7, 2022

news-image
Article Highlights
  • Ethereum price is displaying a diverse trend ever since it failed to slice through the descending consolidation

  • While the highs around $1800 may be still in line, yet the possibility of a huge drop haunts the ETH price

Ethereum price which coiled up with the announcement of the Merger date, slashed hard after the Bellatrix upgrade went live. It mirrored a similar price action as it underwent after the launch of Phase 0 of ETH 2.0, The Beacon Chain. However, the ETH price recovered notably in the next couple of weeks then and hence a similar trend may be revived soon. 

The ETH price was pretty bullish just before the official phase of the Ethereum Merger kicked off with the Bellatrix upgrade. The price reached close to $1700 but faced a major hindrance at $1670 and dropped below $1500 for some moments. However, the asset is now trading above $1500 and may continue to surge high until the Merger is accomplished. 

Will the ETH price sustain above the gained levels post-Merger?

As per the above chart, the price may rise high to reach $1800 until the beginning of the day of the Merger. As predicted by one of the popular analysts, a steep downfall may drag the price below $1000 by the end of September. However, until then the ETH price may receive a notable bullish push. 

Collectively, ethereum  underwent a slight ‘buy the rumor, sell the news event as it recorded heavier correction compared to that of bitcoin org . The asset was rejected on the crucial block & dived south. Therefore, one can expect a higher low here and if the asset wants to ignite a strong recovery, news to hold above the $1350 support levels. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button