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24 Days Left for the Ethereum Merger, Might it be another Choose the Rumor, Sell the news headlines Event?

Ethereum Network is gearing up for the Merger this September good broader Ethereum community. While ETHs price was well on the right track to reach the original target beyond $2000, days gone by weekends plunge squashed the options of achieving these levels. Previously, the asset has displayed a fakeout which seems to repeat with the existing price action.

The next largest crypto immediately after reached the bottoms in mid-June, gained significant bullish momentum, and flipped the bearish trend. The asset sustained above the low support in the days once the bars dominated the rally, displaying its strength. However, the asset dropped hard because the Merger is significantly less than per month away.

The ETH price currently is swinging in a ascending triangle. As the asset was coming to hitting the peak of the consolidation, the bears dominated the rally and dragged the purchase price lower, cutting through the key support. Currently, the purchase price is wanting to re-enter the triangle and continue with the hindered rally.

Collectively, the ETH price prior to the launch of Phase 0 of ETH 2.0, The Beacon Chain, had raised and dropped hard soon after the launch. An identical trend was witnessed with ADA price before Cardanos Alonzo Hard Fork. Therefore, crypto enthusiasts speculate an identical action could be before Ethereum Merger in September.

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Elena R

Elena can be an expert in technical analysis and risk management in cryptocurrency market. She’s 10+year experience on paper – accordingly she actually is avid journalists with a passion towards researching new insights getting into crypto erena.

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