Ethereum Merger is the most awaited event in the crypto space and hence with the announcement of the release date, the ETH price spiked high. Recently, the final testnet before the mainnet release, Goerli went live without major technical flaws. Therefore, it is now believed that the Mainnet Merger may also carry out without much hassle.
One of the lead developers of Ethereum announced that the first phase of the Ethereum Merger, The Bellatrix is about to happen on September 06.
The developer explains the process of the merge, explaining that the actual transition will occur upon hitting a specific Total Difficulty Value of 58750000000000000000000 on the Proof-of-Work chain. Therefore, until the merge, a bug bounty pay-outs have been rolled out to curb the loopholes of the network.
How High Will ETH Price Rise Upon Merge?
The Ethereum price is trading along the ascending trend line and rebounded each time it tested the lower support. Recently, the asset flipped a couple of times and hence formed a double bottom pattern. The ETH price is closely hovering around the resistance or the neckline, waiting for a strong bullish push.
The Ethereum price soon after the lauch of the first phase of the Merger may spike high to reach $1800 gaining more than 12%. However, maintaining a significant bullish movement, the second largest crypto may also hit $2000 before the end of Q3 2022. Therefore, laying down a bullish start for the next quarter aiming to reach the ATH.
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Source: https://coinpedia.org/price-analysis/mark-your-calendar-ethereum-merger-to-began-officially-soon/