Will Ethereum Price Reach $4K as ETH Merge Closes In or Will It Decline?

• ETH may reach new ATH
• Ethereum is close to breaking $2000
• Developers aim to complete ETH merge on September 19, 2022

As days go by, the most anticipated Ethereum merge comes closer. The cryptocurrency developers are forecasted to complete the merge on September 19, 2022.

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The event thrilled traders and crypto analysts about the potential surge of the price of ETH in the coming days. Some are bullish that ETH may reach new ATH, while others hold their horses while waiting for the final result.

Source: TradingView

Despite the bearish market, Ethereum is able to prevail in defying the dragging behavior of the falling market. In other words, Ethereum continues to maintain its uptrend position, which made it reach the bullish price of nearly $2000 per crypto. 

Based on the chart above, we can see that ETH keeps breaking one resistance to another, a bullish indicator. If this continues, there is a big possibility that ETH may destroy the $2000 resistance level in no time. 

Another bright side of the crypto is the bullish momentum of both RSI and MACD. In detail, Both indicators show good trading positions in the past few days. If this uptrend phase keeps on, traders and investors may experience an ETH bull run sooner than expected.  

Based on the analysis made by CNL price experts, ETH prices may hit $3000 to $4000 before the year ends. There is a big chance that this price boost will happen if ETH developers can launch ETH merge on the stated date.     

Disclaimer: The views and opinions in this article belong to the writer alone, and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.

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