Ethereum Merge Now Live! Here’s The Trade Set Up for Bitcoin (BTC) & Ethereum (ETH) Price

The post Ethereum Merge Now Live! Here’s The Trade Set Up for Bitcoin (BTC) & Ethereum (ETH) Price appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Bitcoin & Ethereum prices have been trading within a very narrow range ever since the fresh inflation rates, dragged the assets lower. With the plunge, the market sentiments bewildered and the 24-hour trading volume remained squeezed for the second consecutive day. While all the expectations lie around the upcoming Ethereum Merger, the markets may manifest diverse actions.

BTC & ETH prices are currently stuck up around $20,000 & $1600 respectively, for a pretty long time. Therefore, the upcoming event is believed to uplift the price above $23,000 and $1800 respectively. However, these spikes are set to occur immediately after the Merger, but a notable drop may follow the surge as per a popular analyst, Capo.

Now when the moment is fast approaching, the funding rate on ETH flips to positive after being highly negative for the past couple of days. Hence, the possibility of the bears paying the bulls intensifies. This may be the time when the shorts are thrashed for some time and induce immense confidence within the longs. 

However, history is all set to repeat and the market is expected to tumble down remarkably followed by a short-term bounce. Conversely, the bulls may invalidate the bearish trend if the BTC & ETH price surpasses the crucial $22,500 & $1750 mark and sustain firmly above these levels until the day’s end. 

Rounding off, the Ethereum Merge is an inch away and the markets still remain more or less immobile. Once the Merger is accomplished, one can expect huge volatility in Bitcoin (BTC) & Ethereum (ETH) prices, regardless of the direction of the rally.