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Ahead of Merge, the investors are wondering will Ethereum price reach $3k? According to CoinMarketCap statistics, Ethereum (ETH) has dropped 3.6% in the previous 24 hours and is now trading at roughly $1,906.84.
The most recent price movement comes only 48 hours after Ethereum, the industry’s second-largest cryptocurrency by market capitalization, broke beyond $2,000 for the first time since May.
Before today’s steep price decrease, ETH managed to keep near that milestone throughout the weekend, reaching $2,022 on Sunday. Ethereum opened at $1,936.25 on August 15 and fluctuated between a high of $2,012.06 and a low of $1,879.48.
3 Reasons to Buy Ethereum
Despite a substantial dip in the previous 24 hours, Ethereum is still up over 8% in the last week, making it the best-performing currency of the week among the top ten cryptocurrencies. Considering a recent bullish wave in Ethereum
1. A New Ethereum PoW Fork Could Result from the Merge Upgrade
If the blockchain converts to a complete PoS structure next month, there is a very good chance that a PoW version will split from the current version of Ethereum (ETH). Chandler Guo, a well-known cryptocurrency miner, played a key role in the establishment of the Ethereum Classic (ETC) blockchain network in 2016.
Guo tweeted on August 1 about a “coming soon” PoW version of Ethereum and claimed that “ETH PoW is DAO.” Polniex, a crypto asset exchange, has announced the launch of ETHW markets, and a new website called ethereumpow.org has been launched.
At the moment, the price of ETHW is more comparable to the value of Ethereum Classic (ETC). In terms of the ETHW fork, ETHW will be created if even one of the mining pools that allegedly support the chain starts mining it. Due to the increasing value of the cryptocurrency asset, numerous Ethereum mining pools appear to be mining ETH indefinitely at the moment.
2. The Rise in the Price of ETH
The Ethereum Foundation announced that “time to finalization,” a critical step toward the merge, had just completed another successful test and that the switchover would take place in September. Da Luz presented a replica of Ethereum co-founder Vitalik Buterin prior to the significant merge event.
Da Luz’s company, IsmToys, sees the merge as an opportunity to strengthen its position as a link between Web3 and regular internet users. According to Luz, the merge makes it much easier to begin focusing on the Web2 market and convincing them to use physical, digital goods because using Ethereum and transacting on the blockchain will be cheaper.
Given the Ethereum ecosystem’s continued expansion, Ethereum may be a worthwhile investment for crypto enthusiasts.
3. Merge to Resolve Blockchain’s Scalability Issues
Over time, Ethereum developers have been working to convert the blockchain’s PoW consensus mechanism to PoS. The hope is that this change will help to solve some of the blockchain’s current scalability issues, encourage greater developer involvement, and possibly even make it one of the most valuable cryptocurrencies.
Earlier this month, the Ethereum Foundation released the Ethereum 2.0 update on the Sepolia testnet. The final update before the Merge was the blockchain’s formal switch to the PoS consensus algorithm.
In the last month, ether has increased by more than 82% as a result of the merge. This optimism has permeated the entire cryptocurrency market.According to Ethereum developers, the merge will most likely take place on September 19. However, if the merge occurs sooner than expected, ETH could reach $3,000.
Will Ethereum Price Reach $3k Before Merge?
Ethereum is on a bullish streak, having risen by more than 22% in August alone. The ETH/USDT pair struggled under $2,038 and fell below it to begin profit taking. After testing the 70 line, the RSI (relative strength index) is reversing lower, indicating that bulls are exhausted, and bears may enter the market soon.
Ethereum Daily Technical Levels
Support Resistance
1886.85 2005.81
1838.68 2076.60
1767.89 2124.77
Pivot Point: 1957.64
On the downside, ETH has immediate support at $1,810 and $1,770. The upward channel will likely keep Ethereum in a bullish trend; however, a lower-side breakout could extend the sell-off to the $1,650 and $1,580 levels.
On the upside, Ethereum may encounter significant resistance near the $2,038 level. For instance, a break above this level could push the ETH/USD pair to $2,170 or $2,340.
A break of the $2,350 level may expose the ETH price to the $3K level ahead of the Merge. As a result, keep an eye on the major resistance area of $2,340.
3 Reasons to Buy Tamadoge
TAMA’s pre-sale has already elevated more than $3.9 million, and there are only $55.6 million tokens left before the currency’s value skyrockets. Presently, one USDT equals 66.67 TAMA, and after having to raise the remaining $55.6 million, TAMA will be worth 57.14 USDT.
Aside from Cardano, the meme coin “Tamadoge” is still making headlines as its beta pre-sale price skyrockets.
1. Potential for Huge Price Increases
As a result of the current crypto crisis, the market experienced significant volatility, and communities for numerous prominent projects, like LUNA were decimated. Many cryptocurrencies are leaving the market as a result of the current situation, yet fresh startups like Tamadoge may end up surpassing everyone’s wildest dreams.
TAMA tokens are a potential successor to both the SHIB and DOGE cryptocurrencies. However, as the tokens are now in beta presale, you may be able to purchase them at a significant discount.
As soon as the tokens are released into the market, their price will increase dramatically. The future of the Tamadoge project looks promising since LBank has already said that the token would be featured in their crypto exchange coin list.
However, the number of exchanges supporting TAMA will increase as the project attracts more investors. Thus early adopters stand to gain the most.
2. Rewards for Playing and Earning
Tamadoge combines elements from the cryptographic world, the token economy, and the virtual world, creating a new type of currency. The P2E mechanism is used to reward the most engaged users with more TAMA tokens.
Players must set new benchmarks to gain tokens and rise to the top of global leaderboards. Platformers and arcade games are among the most widely available options. Therefore mastery is a must. A lot more games will be added in the near future, giving you a greater chance to earn tokens.
3. A Flourishing Virtual Social Network
One of the greatest ways to judge the success of a cryptocurrency is to examine the community that supports it. Despite still being in its infancy, the Tamadoge online community seems solid. About 12,000 people are part of the Tamadoge Telegram group, while the official Twitter handle has more than 18,000.
As can be seen, the Tamadoge community is quite active, which may cause the value of TAMA coins to spike when they are first released. Remember when the price of DOGE skyrocketed when Elon Musk discussed it online?
Forty thousand people together make a stronger force than one.
Utter security Constant threats are being made against the cryptocurrency and blockchain community. Therefore, cybercriminals continuously develop new methods to steal cryptocurrency and disrupt blockchain networks. It’s a major issue, resulting in billions of dollars in annual losses for investors. In contrast, Solid Proof has previously performed a detailed audit of Tamadoge, guaranteeing its security.
And as it’s built on CoinSniper’s extensive Know Your Customer features, it also has protections against ‘rug pulls. The entire project is up to par with industry standards, and the creators have made an effort to head off any major issues in the making.
Learn more about how to create a crypto wallet to buy Tamadoge.
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