Is Ethereum’s Price Set to Soar to $2,000 Post Merge?

ETH Graphic

A “doodle” from Google, the most visited website in the world, is counting down to the Ethereum merge. The approval comes just three and a half days before Ethereum’s long-awaited switch to a less energy-intensive proof of stake mechanism of confirming transactions. Also, Third-party wallets like MetaMask are now supported by Opera Crypto Browser, a Web3-focused browser designed to function with a range of decentralized apps (dApps).

Ether has also recently been popular among top whales. The top 5000 Ethereum whales bought the most ETH on September 12th, according to a recent WhaleStats update. These whales spent $5,058 on Ethereum on average, which raises the average amount to nearly three ETH. Let’s take a look at the ETH price chart.

ETH Technical Analysis

ETH Technical Analysis

Key Support Levels: $1,37 & $1246 || Key Resistance Levels: $1723 & $1948

If the $1,723 resistance level is too strong for ETH to overcome, it can reverse course and head back to the critical support level of $1,437. ETH needs to cross the $1,948 resistance level in order for the medium-term trend to become bullish once more. The price of ETH must stay above the $1,723 resistance level in order to reach the significant resistance level at the price of $1723.

Given recent developments and investments, the ETH may increase in value in the near future despite the long-term adverse trend in cryptocurrencies. Only a decline of ETH below the crucial support level at $1,246 would be considered bearish.

If you missed our previous TAs, you could find them here.