Ethereum Merger’s first phase is about to kick off very soon with the release of the Bellatrix upgrade which is scheduled shortly. Hence, the entire crypto space is trying to get out of the bearish captivity ahead of the event. While ETH price is expected to surge beyond its ATH, ETC price may also make a larger move very soon.
As the merger draws closer, market sentiment is strengthening as the event is seen to be as important as the Bitcoin halving. Therefore, as the price of BTC moves higher after each of its halvings, the price of ETH is also expected to reach $7000 to $10,000 by the end of the year.
The analyst, who claims to have sold BTC at the ATH twice and also called $18,000 the bottom, hopes ETH to form a new ATH soon. It is to be noted that the ETH price needs to rise by more than 350% in the next 3 to 4 months to reach the above-mentioned target. However, the analyst believes the crypto space is bigger now compared to 2017, and hence it may be possible.
Ethereum Classic breaks out of consolidation ahead of merger
Ethereum Classic is considered to be one of the assets to be positively impacted after the merger as a significant proportion of miners have turned to the ETC chain. With the announcement of the date of the merger, the price of ETC increased by about 190% and as the official process was about to begin, the asset added another 30% counting.
The ETC price despite a couple of spikes traded within the bullish falling wedge, waiting for a breakout. However, the price broke out of consolidation during the previous trading day and made a move beyond $40. However, the price is facing minor hindrances presently, while the bulls are self-assured to rise the price beyond the pivotal resistance between $44 & $45 to reach $50 this month.
Collectively, the upcoming merger is expected to turn the tables not only for Ethereum or Ethereum mergers but for the entire crypto space. Therefore, a notable bounce can be expected while the price of Bitcoin (BTC) may continue to hover within the narrow ranges pre-set.
