Two Reasons Why Ethereum Could Soar

12 ago 2022

Ethereum rallied significantly, reaching the $1900's. A softer Fed rate hike outlook has given virtually all markets, including the crypto market, the green light to rally. Additionally, a long awaited event for Ethereum known to the community simply as '[url= cnbc.com/2022/08/11/ether-eth-price-surges-after-ethereum-completes-final-testnet-merge.html]the merge' is set to take place in September, which would offer significant upgrades to the Ethereum network including the transition from Proof of Work to Proof of Stake, a technical breakthrough that has already been validated on the test networks. Ethereum is the second largest cryptocurrency by market cap, so this news will permeate the crypto market in general. We have broken through to the $1900's, but fell short at $1945. We have not made a significant retracement, but momentum appears to have stalled out for now. We are holding the high $1800's, and should have support from $1821, or at worst, $1748. The Kovach OBV is steadily trending upwards, confirming the rally. Our next major target is $2025 if it can continue.