- Ethereum is now the leading cryptocurrency because everyone is anticipating the greatest event in the history of ETH and crypto in total.
- Bitcoin’s dominance is going down, which greatly favors Ethereum . This downtrend should continue until the end of the year.
- It looks like the demand for ETH is now very high and may substantially increase over time before the merge begins.
- On the daily chart , we have a new parallel ascending base channel that is defined by Wave (1) and Wave (2). There are always 2 versions of the channels – on the linear scale and on the LOG scale, which makes trading more difficult, but it is how it is. The channel on the log scale fits better because it includes previous swings as well.
- As per my Elliott Wave analysis, an ABC correction (wave 2) has finished and we are already in a new third impulsive wave, which should be huge.
- Ethereum 2.0 – The Bellatrix upgrade will activate on the Beacon Chain on September 6. This upgrade is responsible for setting the rest of the Merge process in motion. The Terminal Total Difficulty value triggering The Merge is expected between September 10-20, 2022.
Ethereum, ETH 2.0 in a few days! – Explosive bull market
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Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.