The highly-anticipated Ethereum merger is one topic that all hardcore crypto aficionados are talking about. ETH currently trades below the $1.6K level Ethereum price nosedives by 1.24% or trading at $1,570.76 ETH liquidations trigger price spike Investors are debating whether or not the price of Ethereum will reach $3,000 since it is on everyone’s mind and a topic of conversation. When the Ethereum Blockchain and Beacon Chain fuse together on September 22, 2022, the Ethereum Blockchain will switch from Proof of Work mechanism to Proof of Stake. As a result of this shift, Ethereum miners will use significantly less computing energy. That will lessen the impact on the environment and soothe some of the concerns about cryptocurrency. Since hitting a record high price of $4,868 in November 2021, Ethereum has been slipping under a declining resistance line. Even as we went to press, ETH was trading below the $1.6k level and had experienced a new 2% fall. Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks Source: CoinMarketCap According to CoinMarketCap, ETH price has dipped by 9% in the last seven days, and trading at $1,550 as of this writing. Ethereum Liquidations Trigger Price Spike Traders’ skepticism of Ethereum is high during a week of trading that has been extremely erratic. The majority of investors have sold short (shorted) across exchanges for the first time since June 2021. No...
