Ethereum has moved up the chart significantly in the past weeks, even more than bitcoin and most Altcoins.
At the writing time, $ETH is trading at $1,536 after dropping from $1,660 in the past few hours.
According to the above chart, $ETH has been in a range since July 18th, 2022, and is expected to remain there until the merge takes place or just before it does.
The merger could provide the motivation needed for the price of Ethereum to move out of its trading range. The chart above shows that the range is $1500 to $1600.
An upward break will bring the price of $ETH to at least $2000 or higher.
In contrast, a more bearish scenario would see Ethereum’s price pushed even farther out of its present range and could continue its downward trend into the $1200 zone. The graph below emphasizes this.