How High Can Ethereum Go Before The Merge

2022-7-31 23:35

The Ethereum “Merge” has become a hot topic among top crypto analysts after the incident that led to the collapse of the Ethereum network in the sale of Otherside by Yuga labs, with nearly $200M lost as gas fees.

Related Reading: Proof of Work Vs Proof of Stake – Laneaxis

The Ethereum merge, also known as Ethereum 2.0, is the upgrade of the existing execution of the Ethereum layer 1 from proof-of-work (PoW) to proof-of-state (PoS), Beacon chain.

POW was first used by the early pioneers of the blockchain Bitcoin and Ethereum. It aims to achieve decentralization and security by using miners to decode cryptographic algorithms or puzzle-like maths. 

As the demand increases for transactions, it becomes slow, gas fees increases, and resources intensify.

Proof-of-Stake (POS) is similar to POW, just that users authenticate transactions on the blockchain employing stake and get rewarded. 

“The Merge” is a massive step for Ethereum and the community; it is important to note that the Beacon chain is shipped separately from the Ethereum mainnet. It means the Beacon works in parallel as POS, and all accounts, transactions, balances, and smart contracts remain secured by POW  until the final merge to POS.

Ethereum Price Remain Strong Despite Daily Resistance

Ethereum keeps showing great strength of bullish movement as the anticipated merge gets closer. Ethereum is currently trading at a resistance of $1,730 at the point of writing on the 1D daily chart. 

A break of this region would send Ethereum’s price to $2,400 and even higher if the bulls and sentiments of the market stay strong ahead of the merge.

ETH 1D Resistance On Daily Chart | Source: ETHUSDT On Tradingview.com

Ethereum looks really good from the chart on a daily timeframe which is a good sign as we head into a new month. Due to a low volume on a weekend, Ethereum would have a tough time breaking the resistance.

If Ethereum is unable to break out successfully, we could retest the region of $1,600 as the nearest support before a major upside movement.

Ethereum Price On the 4H Chart

Ethereum is currently facing resistance at $1,730 with a low volume accompanying it. If there is going to be a pullback over the weekend the support at $1,600 would be a good entry.

 

ETH Faces Resistance At $1,730 With Low Volume | Source: ETHUSDT On Tradingview.com

Related Reading: Will The Ethereum Merge Skyrocket ETH?

The relative strength Index (RSI) is above the 50 mark indicating the market looks healthy but with less price action. With bulls pushing Ethereum in the coming days, breaking the resistance at $1,730 would not be much of a challenge.

 

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Ethereum (ETH) на Currencies.ru

$ 2917.56 (+0.60%)
Объем 24H $30.816b
Изменеия 24h: 3.25 %, 7d: 16.26 %
Cегодня L: $2869.23 - H: $2948.15
Капитализация $351.333b Rank 2
Цена в час новости $ 1703.75 (71.24%)

ethereum merge sale otherside network collapse yuga

Источник: newsbtc.com

ethereum merge → Результатов: 126


Фото:

Инвесторы разочаровались в Ethereum Classic, несмотря на его рост цены накануне Merge

Экс-майнеры Ethereum, которые стали добывать Ethereum Classic, стали пересматривать оценки роста ее стоимости. Альткоин Ethereum Classic, который демонстрировал сильный рост за несколько недель до внедрения обновления Merge в работу блокчейна Ethereum, в итоге за последние семь дней показал заметную нисходящую коррекцию, потеряв 25,5% своей стоимости и упав до 25,85 долл. На момент Merge ETC стоил […]

2022-9-22 15:33


Фото:

Pro discusses semiconductor stocks outlook post Ethereum Merge

Ethereum (ETH/USD), successfully hit the Merge earlier Thursday to mark one of the biggest events in crypto history since the launch of Bitcoin over a decade ago. The switch from a proof-of-work (PoW) mechanism to a proof-of-stake (PoS) network mechanism comes with multiple benefits for the Ethereum network (Invezz analyst Dan Ashmore gives a great […] The post Pro discusses semiconductor stocks outlook post Ethereum Merge appeared first on Invezz.

2022-9-16 22:16


В сети Ethereum активировано долгожданное обновление The Merge (Ethereum 2.0)

Сегодня, в 9:45 по Москве, произошло историческое событие, которого криптосообщество ждало почти пять лет. Разработчики активировали масштабное обновление The Merge в основной сети Ethereum. Блокчейн крупнейшего альткоина был успешно переведен на алгоритм консенсуса Proof-of-Stake (PoS).

2022-9-15 11:51


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