After a period of consolidation, ETH price seems poised to break out, with the bulls in command

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  • The Ethereum fork could be postponed.
  • Vitalik Buterin hopes to finish the merger in August.
  • Analysts predict that the price of Ethereum will rise to $2,800.

Ethereum co-founder Vitalik Buterin has cautioned that a plan change could lead the project to be delayed. In addition, the project is likely to be further delayed now that the large complex bomb has been detonated. Buterin’s new road map implies that the merger will be completed by August 2022.

Buterin stated at the Shanghai Web 3.0 Developer Summit that the Ethereum Merge might happen in early August 2022. The proof-of-stake (PoS) changeover will be completed on time, according to Vitalik Buterin. However, he warned that if problems with the testnet implementation develop, the launch could be postponed.

If problems arise and developers discover concerns that need to be addressed, the Ethereum Merge may be postponed. According to Buterin, the Merge could be pushed back to September or October 2022 due to the delay. Those who were worried about another hard fork will be relieved by this news.

If the Merge is postponed, the changeover is unlikely to happen until 2023. Nonetheless, this would improve the current plan, which calls for the PoS move in late 2022 or early 2023.

Buterin referred to the difficulties that arise when the ETH blockchain, with all of its decentralized applications and regulation, switches from proof-of-work (PoW) to proof-of-stake (PoS).

According to an analyst, once the price trend for ETH is positive, Ethereum may rebound to $2,800 if market conditions are favorable. The fractal pattern is identical to what the analyst spotted on the Ethereum price chart in October 2016. The ascending triangle fails after the first fake-out, according to the researchers. The analyst anticipates Ethereum’s price to grow to $4,200 in the long run if the ascending triangle pattern holds.

Before going long on the market, it is best to wait for ETH to form lows, as a breakout to the upside is likely. Two fake-outs are visible in the fractal analysis, followed by the Ethereum price bursting out of the ascending triangle.

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