The ETH rate May Soar to $4,800 before Merge

03.06.2023, 17:47
What conditions need to be met for Ethereum to rise to $4,800 before the introduction of the Proof of Stake consensus? What to do next?
The ETH rate May Soar to $4,800 before Merge

Cryptocurrency markets continue to recover, traders hope for breakthroughs in the foreseeable future, and observers give forecasts. One of them is waiting: The ETH rate will reach a maximum of $4,800.

An anonymous trader, known on Twitter under the nickname Crypto Caleo, told his few followers: Ether has a chance of $ 4,800 even before the Merger. Merge, or Merge, is the name of the transition of the Ethereum blockchain to the Proof of Stake consensus. The exact date of the transition is unknown. It is expected that this will happen on September 13-15.

According to the analyst, if BTC can recover to $32,000 and the ETH/BTC pair reaches the previous high of 0.15 BTC for 1 ETH before the merger takes place, the community will witness the growth of Ether to $4,800. ETH is currently trading at $0.085 BTC. The bitcoin exchange rate is about $ 20,600.

Kaleo also advises taking profits if these levels are reached, stating that with the achievement of $4,800, the community will be at the peak of euphoria.

Since falling to its monthly low of $1,019 on July 13, ETH has been growing rapidly, rising by about 70% - to the current price of $1,705 at the time of writing.

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