Ethereum Displays its Strength While Ethereum Classic Spikes High, Will ETC Price Hit $50 Before Merger?
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 is approaching, the market sentiments are coiling up as the event is considered as important as the Bitcoin halving. Therefore, as the BTC price after each of its halving spikes high, the ETH price is also expected to spike high to reach $7000 to $10,000 by the end of the year.
#Ethereum will explode, Vitali knows that’s maybe his last opportunity to flip over BTC market cap during such a historical event. The mother of all pumps is loading for #ETH and will be similar like the BTC halving pumps. Between 7 – 10k till end of the year.— Doctor Profit (@DrProfitCrypto) September 5, 2022
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 one of the assets to be positively impacted after the Merger as a large share of miners has switched to the ETC chain. With the announcement of the Merger date, the ETC price spiked nearly 190% and as the official process is about to kick off, the asset surged by 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 for not only Ethereum or Ethereum Merger but for the entire crypto space. Therefore, a notable bounce can be expected while the Bitcoin(BTC) price may continue to hover within the pre-defined narrow ranges.Source