While the cryptocurrency world, trying to hold the $1 trillion level, faces high volatility, the leading altcoin Ethereum seems to have lost interest before the long-awaited Merge upgrade.
Specifically, the crypto community on CoinMarketCap has predicted that ETH will be trading above $2,000 by September 30, 2022. Based on the predictions of CoinMarketCap, the community suggested that the leading altcoin will be trading at $2,102 by the end of September, a 29% increase from its current price.
How Long Will Ethereum Price Be Before Merge Raise?
Over the past 45 days, the cryptocurrency has witnessed high volatility in prices, with massive upward moves and momentary corrections. ETH recently hit a high of $2,000 compared to lows at the $800 price level. According to top investors in the community, this high volatility pattern is not seen as a bad or negative situation for Ethereum.
Scott Melker, host of The Wolf Of All Streets podcast, said that he is extremely optimistic about the price of ETH when looking at the long term. He added that he wants to take a position in the $1,200 range in ETH.
He notes that if there is a break below the current level, a drop to the $1,284 price range could occur. He points out that a move towards the $1,690 level could lead to a decline. However, he adds that it is not certain whether this will happen or not, but he waits in line with previous movements. Melker continues his speech with these words:
“If we go down to $1,284, I'd be very excited about Ethereum. That's still 50 percent higher than the $800 low. Even at the current $1,600 level, it's double the recent lows. I don't see this as a bearish bias for ETH compared to Bitcoin.”