Ethereum is coming into heavy resistance north of $1,900 as the cryptocurrency attempts to push further into previously lost territory. Today, ETH core developers announced a tentative date for the upcoming “Merge” event set for September 15 to 16, 2022, which could bolster bulls’ attempts to climb higher. Related Reading: Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction At the time of writing, Ethereum’s (ETH) price trades at $1,888 with 3% profits in the last 24 hours and a 17% profit in the last week. “The Merge” is the event that will complete Ethereum’s migration to a Proof-of-Stake (PoS) consensus. It’s one of the most highly anticipated events in the space due to its implications for the price of ETH, and one of the main reasons why the bullish momentum could extend in the coming months. Analyst Michaël van de Poppe said the following on “The Merge”, its short-term implications for the crypto market, and why ETH’s price could continue to see bullish momentum: Honestly, Ethereum is the actual asset that is carrying the markets, as some FOMO is starting to get some grip on the markets with the merge and ETH 2.0 coming up. Through that, expecting to see $ETH continue towards $2.5K and $BTC towards the $30K region in the coming month. Some market participants are wondering if “The Merge” will operate as a “buy the rumor, sell the news” event. In other words, whether Ethereum will rally into September ...
How Does Bitcoin Respond to Market Shocks?
