Ethereum price is soaring high displaying acute strength while the rise in the Bitcoin price is providing a substantial base. Further, while the star crypto remains undisturbed to some extent, the second largest asset may get a chance to propel high.
However, the upcoming weekend could be crucial as the price is expected to move higher as sentiments are in favor of ETH price.
With the recent upswing that uplifted the entire crypto space moderately, the expectations of ETH price leading the next bull market hovers within the space. Therefore, the upper targets for Ethereum are set up by a popular analyst who believes the asset may achieve $3500 very soon.
The upcoming merger is expected to turn the tables not only for Ethereum but for the entire crypto space. As the asset is showing the possibility of repeating the 2016-17 bull run structure which may result in a price move higher than the current ATH.
The analyst believes if the ETH price replicates the same trend as before, the price may surge drastically beyond $5000 in the next 6 to 8 months post the merger. Currently, the address holding 32+ coins and the Total Value Locked in ETH 2.0 has reached an ATH. Additionally, the MVRV ratio has also reached a 3-month high amid the swelling value of the asset.
