Here’s What’s in Store for Ethereum (ETH) Ahead of the Merger, Says Analyst Michaël van de Poppe

Popular crypto analyst Michaël van de Poppe plans a bullish scenario for Ethereum (ETH) amidst the hype surrounding the upcoming smart contract platform upgrade.
The crypto strategist tells his 623,800 Twitter followers that he believes Ethereum’s current pullback from its August high of around $2,000 is likely to come to an end.

“If you look at a scenario like Ethereum.

end of correction relatively soon, crucial level around $1,350.
The merge hype will kick off in the coming weeks and drive the markets higher.

If a block of around $1,300 to $1,350 is lost -> next $1,000.”
Source: Van de Poppe/Twitter
The merge that will enable Ethereum to transition from proof of work to Proof of Stake is scheduled for mid-September. At the time of writing, ETH is changing hands at $1,449, down over 3% on the day.

Watch Ethereum vs Bitcoin (ETH/BTC) Van de Poppe says that the pair needs to stay above its immediate support level to increase the chances for the uptrend to continue.

“The daily order block still holds on Ethereum, which is great. I would like to see it hold above 0.071-0.0725 BTC ($1,402 – $1,432) as then it is still a regular correction in an uptrend.

A continuation could be possible up to 0.10 BTC ($1,975).”
Source: Van de Poppe/Twitter
At the time of writing, the ETH/BTC pair is trading at 0.073 BTC ($1,441), unchanged on the day.

As for Bitcoin, Van de Poppe says he doesn’t see BTC correcting to $14,000.

“Potential scenario for Bitcoin as we face a test of a weekly support level.

Testing the $19,000 region seems inevitable.

The question is, do we sweep the lows or just create a higher low…

Everyone is waiting for $14,000. Seems unlikely.”
Source: Van de Poppe/Twitter
At the time of writing, Bitcoin is valued at $19,838, down over 1% on the day.

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