Ethereum price forecast ahead of the merger


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Experts spoke about the forecast for the Ethereum (ETH) cryptocurrency in anticipation of the merger of networks, which will occur on September 15, 2022. This fact was confirmed yesterday by the developers of the project. Analysts noted that this caused the price of the virtual asset to rise to $1,900. Experts told about the prospects for overcoming the value of $2,000 and whether this will happen.

According to them, reaching this mark is a problem for the Ethereum rate, but traders can look at such a scenario with optimism. After successfully testing the PoW version of Ethereum on the testnet, the developers have assured the community that the upgrade will proceed as previously intended. However, the price of the asset remained in the oversold zone, despite rising from $950 to $1,900 in recent weeks.

According to experts, the fact is that market participants have not recovered from the protracted collapse of the crypto market. Closer to $2,000, a key resistance level can be noted on the Ethereum chart. Experts expressed confidence that much will depend on the volume of trading, which will determine the price volatility in the run-up to the merger.

Analysts emphasized: yesterday the price for ETH reached $1943 at the peak of the day. This suggests that the price threshold of $2000 cannot be called unattainable. However, on large centralized exchanges, many sell orders are open at this particular mark. According to analysts, the whales will try to take profits and this may prevent the asset from breaking the key mark. However, if this happens, the cost could skyrocket to $2,500 or more.

Traders should also consider that there is strong technical resistance at $2,100 on the 200-day moving average (MA).

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