- Crypto Analyst Eric Crown predicts post-merge ETH price.
- He indicates a $1,300 bottom for ETH.
- However, he adds that the ETH dominance chart will go bullish after the merge.
Crypto Analyst Eric Crown talks about the price of Ethereum (ETH) in the context of the upcoming Proof of Stake (PoS) merge. He stresses a question: “Will the Ethereum merge be a buy the rumor or sell the news event?” on the Altcoin Daily YouTube channel, hosted by Austin Arnold.
Crown displays the monthly chart of ETH and figures a hidden bullish divergence. This is formed as bears are using more force/momentum to push “price action down.” However, Crown states that bears are not making a lower low. He then compares the low zone formed for ETH in March 2020 and the current potential lows, which are as of now unconfirmed.
Moreover, the analyst further said that ETH would find a bottom at $1,300. Analyzing the monthly stochastic momentum oscillator for ETH, Crown depicted that it is tumbling down, which could be more evident in late September.
Also, there are several narratives based on ETH merge, and more predatory investors use the narratives to escalate retail-inspired investors and excite them about the price surge. However, after the merge, the price of the coin would drop, said Crown.
Looking at the ETH dominance chart, Crown says that the chart will be incredibly bullish after the PoS merge in September and later on, it may plunge.
Furthermore, Crown said that there must be a “strategy” for traders and he gave a piece of knowledge for trading strategies, which are entry, exit, and risk management.
At the press time, ETH was trading at $1,571, with a 2.2% dip in the past 24 hours.
Apart from Crown’s analysis, the price of the coin slightly recovered in between the intraday trading. Also, staking on ETH 2.0 surged by 11.17%, and the number of staking addresses reached 13,343,769.