- The Ethereum network finally completed its long-awaited Merge.
- SOL and MATIC could be shoved to the background now that ETH’s electricity usage is reduced.
- ETC’s hashes per second saw a more than 200% rise since September 13.
The Ethereum network finally completed its long-awaited Merge on September 15 which transformed the network to a proof-of-stake consensus mechanism. Now, people are wondering: what is next in store for some of the Ethereum competitors like Ethereum Classic (ETC), Solana (SOL) and Cardano (ADA).
After SOL was pulled to its lowest on June 13 of this year, the altcoin has been increasing within its wedge pattern. On September 13, SOL once again rejected $39.35, but now it could be safe to assume that the next time SOL enters this area it could start a bullish run.
It is, however, important to keep in mind that sustainable solutions like SOL and Polygon (MATIC) could be shoved to the background now that ETH’s electricity usage is reduced by 99.95% after the Merge.This could have an impact on the price of SOL.
After ADA hit its all-time high of $3.09 in August of 2021, many believe that the Ethereum-killer is now in wave four. If this is accurate, ADA could see a fall around its immediate support of $0.32 or $0.22.
A move below the $0.95 mark will most likely decide the crypto’s fate.
With regards to ETC, there is some uncertainty about what is next in store for the crypto. ETC will either move above $45.71 or plunge to below $30.34, but no one knows which way things will go.
One thing that could have an effect on the price of the crypto is the fact that ETC’s hashes per second saw a more than 200% rise since September 13. This is probably due to the fact Ethereum miners are now moving toward ETC after the Merge.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.