Ethereum Price UP in Anticipation for the Merge – Can you Still Buy ETH?

In this Ethereum price prediction, we analyze where will ETH price reach. Can you still buy ETH? Will Ethereum reach 2000 $ before the Merge?

Rudy Fares

Rudy Fares

image

After another short consolidation, cryptocurrency prices soared by more than 7% in the past 24 hours. While Bitcoin managed to increase by around 6%, Ethereum prices doubled their gains and reached the important price of around $1,850. In our previous price prediction article, we did place this specific short-term target for Ether 😉 In this Ethereum price prediction, we’re going to see where will prices head before the merge. Can you still buy ETH? Will Ethereum reach 2000 $ before the Merge?

What is the Ethereum Merge?

Cryptocurrencies are all about decentralization. The Ethereum MErge is a huge step in that direction. Ethereum is a decentralized platform that runs smart-contracts: simple, automated transactions between parties. These contracts are self-executing without a need for a middle man, like a bank or PayPal.

The proof-of-work consensus is what allows the Ethereum blockchain to function right now. In essence, it controls every transaction on the blockchain via a complex process. The merging reflects the implementation of the considerably more sustainable proof-of-stake consensus.

Ethereum Price UP: on the MOVE?

Ethereum prices crashed hard following the 2022 bear market. Prices briefly reached a low of around $820 before going back to the psychological price of $1,000 per ETH. From there, we saw an extended consolidation that lasted for around 1 month between the prices of $1,000 and $1,250. However, once Ethereum managed to break out of this consolidation, we expected prices to reach the next target of around $1,850. This is exactly what happened today.

Looking at figure 1 below, we can clearly see why this area is very important for Ethereum. In fact, this was a very strong support price area for ETH. Now that we reached this level, we need to look at what might happen next, specifically before the Merge.

Shared Image

Ethereum Price Prediction – Will Ethereum reach 2000 $?

It is quite obvious that Ethereum prices are eyeing the psychological price of $2,000. Now that Ethereum reach the new consolidation phase, we expect that prices would consolidate again. We should see a breach of the $2,000 price area, but we expect another consolidation higher between $2,000 and $2,200. Looking at figure 2 below, we can see a potentially repeating pattern with prices.

Shared Image

Rudy Fares
Article By

Rudy Fares

Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.

More articles on Cryptoticker

View All

Regular updates on Web3, NFTs, Bitcoin & Price forecasts.

Stay up to date with CryptoTicker.