After recovering from the recent crypto market massacre, the price of Ethereum may rise as the Bitcoin price is trying to stabalize hard. The upcoming merger was expected to turn the tables for the asset. However, the transition from Proof-of-work to Proof-of-stake has been now put back to Q3 2022. Despite the event being delayed, this is how the ETH price target still remains at $10,000 by the end of 2022.
Ethereum price nowadays is constantly forming a couple of bearish flags which signals the asset swinging within a deep bearish trend. And hence the possibility of the asset dropping down towards the lower support beneath $2,800. However, the asset is slightly volatile as the volume is increasing slightly irrespective of whether it’s buying or selling. And hence a notable uptrend could bring back the price above $3000 again.
The ETH price is constantly forming bearish flags and hence yet another plunge may drain the price below $3000. After reaching the crucial levels around $2800, the price is expected to undertake a larger flip as the bulls are expected to enter the race. And with the resurgence of the bullish trend, the price is expected to gain back the levels above $3000. On the other hand, if the asset fails to reach these levels, a choppy trade may compel the price to hover just below these levels.
Despite a delay in the merger, the Ethereum developer count still remains the second-highest after Solana. And hence the development activity may range high in the upcoming days which could deeply impact the ETH price too. And hence with the merger accomplished successfully, the price may be primed to hit $10,000 without any hindrance.