Ethereum price which coiled up with the announcement of the Merger date, slashed hard after the Bellatrix upgrade went live. It mirrored a similar price action as it underwent after the launch of Phase 0 of ETH 2.0, The Beacon Chain. However, the ETH price recovered notably in the next couple of weeks then and hence a similar trend may be revived soon.
The ETH price was pretty bullish just before the official phase of the Ethereum Merger kicked off with the Bellatrix upgrade. The price reached close to $1700 but faced a major hindrance at $1670 and dropped below $1500 for some moments. However, the asset is now trading above $1500 and may continue to surge high until the Merger is accomplished.
Will the ETH price sustain above the gained levels post-Merger?
As per the above chart, the price may rise high to reach $1800 until the beginning of the day of the Merger. As predicted by one of the popular analysts, a steep downfall may drag the price below $1000 by the end of September. However, until then the ETH price may receive a notable bullish push.
Collectively, Ethereum underwent a slight ‘buy the rumor, sell the news event as it recorded heavier correction compared to that of Bitcoin. The asset was rejected on the crucial block & dived south. Therefore, one can expect a higher low here and if the asset wants to ignite a strong recovery, news to hold above the $1350 support levels.