Like the entire cryptocurrency market, the second largest market capitalization asset Ethereum (ETH) is experiencing increased turbulence, which is intensifying amid expectations of the Merge update. It will convert the network from the Proof-of-Work (PoW) algorithm to the Proof-of-Work (PoW) algorithm.
Now the cryptocurrency community is wondering what the price of ether will be in the near future. CoinMarketCap users are extremely optimistic, believing that by September 30, 2022, ETH will trade above $2,000.
Using the site’s Price Prediction tool, the community believes that by the end of September, Ethereum will be trading at $2102, or 29.16% more than the current price. This version received 2154 votes.
Ethereum price prediction from the crypto community. Source: CoinMarketCap
Ethereum is currently trading at $1642 with a daily growth of 3.3%, keeping weekly losses at 13.9%. ETH’s total market cap is currently $197 billion.
Cryptanalyst Rekt Capital suggested in his technical analysis that soon ETH may form a lower maximum, as in 2021:
Such an event is not out of the question, as ETH was unable to retest the orange region as support. Thus, ETH can rise to orange to confirm its resistance.
The potential lower maximum of Ethereum. Source: Rekt Capital
Interestingly, against the background of market turbulence, Ethereum ranks first among the projects with the greatest development activity over the past 30 days (as of August 22).
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