Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next? By Cointelegraph


Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next?

Ethereum’s native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token’s next selloff move could turn into a bear trap as the market factors in the possible release of the Merge this coming August.

Ether’s price could reach $4,000 by 2022’s end, according to a technical setup shared on May 20 by Wolf, an independent market analyst.

three-day price chart featuring ascending triangle setups. Source: Wolf/TradingView