How realistic is $1,200 in Ethereum price post-Merge?

How realistic is $1,200 in Ethereum price post-Merge?
фото показано с : coinjournal.net

2022-9-20 21:56

Ethereum price crashed by more than 10% on Monday after the replay attack

ETH price has been weak since a successful PoS shift

The cryptocurrency faces drop to $1,250 and potentially $1,000

Despite the Ethereum merge occurring successfully, the native token ETH/USD has disappointed. On Monday, the price fell by double digits, touching a low of slightly below $1,300. That makes the total losses in the Merge week 25%. How far can the price fall further?

A replay attack reported on Ethereum Proof-of-Work accelerated the decline in price over the weekend. On September 18, BlockSec found that the attack occurred through a replay of a message from the PoS chain. That was because the bridge failed to authenticate the chainID accurately. The attackers are said to have moved 200 WETH via the Omnibridge. They replayed the transaction on the PoW protocol to get another 200ETHW.

The Ethereum team has confirmed the attack. However, it says the transaction replay did not occur on-chain. Rather, it was a call data replay due to shortcomings in the contract. 

As the situation unfolds, investors seem to have exercised caution. For a chain upgrade that is just days away, the attack dampens sentiment, which is affecting ETH price. At the current price, ETH buyers have to come in quickly. Otherwise, the price could head to $1,000. 

Technical outlook shows Ethereum under pressure

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

Buy ETH with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy ETH with Coinbase today Disclaimer

Source – TradingView

A break below $1,400 minor support makes ETH vulnerable. The MACD signal has dipped further into the bear zone. The next potential support is $1,250. ETH at $1,000 is still a possibility, the main support zone. That’s partly due to the Ethereum concerns and the broader weak crypto sentiment. We insist on watching for proper reversal signals at $1,250 before buying.

Conclusion

Ethereum price could touch $1,250 and proceed to $1,000 if the bear market continues. Investors should not buy at the current level.

The post How realistic is $1,200 in Ethereum price post-Merge? appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price ethereum post-merge realistic 200 eth coinjournal

Источник: coinjournal.net

price ethereum → Результатов: 126


Ethereum price prediction: ripe for a 37% jump to $2,500

Ethereum price has pulled back in the past few days as the recent rally took a breather. ETH dropped to a low of $1,851, which was 14% lower than the year-to-date high of $2,131. This means that the coin has moved to the correction zone, which happens when an asset drops by 10% from its […] The post Ethereum price prediction: ripe for a 37% jump to $2,500 appeared first on CoinJournal.

2023-4-24 15:15


Ethereum Price Analysis & Prediction (Jan 18th) – ETH Bulls Take Break After Pushing Consistently For Two Weeks, Can They Refuel Above $1.5k?

Ethereum’s price increased by 33% over the past two weeks after breaking out of a long-term channel. The consistent price increase has pushed the cryptocurrency to a 2-month high. Since the beginning of the year, Ethereum has been following a bullish sentiment and has tapped a 2-month high at $1.6k yesterday. The price dropped to […]

2023-1-19 09:18


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Wallet drainer service Pink Drainer to wind down operations

Developers behind Pink Drainer, a notorious wallet drainer service implicated in the theft of over $75 million in assets, have decided to wind down their operations.  “We have reached our goal and now, according to plan, it’s time for us…

Ethereum ETF Dreams Dashed? Analyst Says SEC Approval ‘Slim To None’

For investors hoping for a simple way to gain exposure to Ethereum, the road seems paved with regulatory hurdles. The US Securities and Exchange Commission (SEC) has thrown a wrench into plans for spot Ethereum Exchange Traded Funds (ETFs), leaving the future of these investment vehicles shrouded in uncertainty.