• Ethereum price could hit new highs with the upcoming Ethereum Merge, Travis Kling, a leading crypto analyst believes it is the biggest catalyst in history. 
  • Despite the delay, Merge’s timing is perfect for Ethereum’s price as the event could act as a catalyst for the altcoin. 
  • Analysts observe a super trend and predict a bullish flip in Ethereum price, setting the next target at $3,076. 

Ethereum price is on track for a breakout with the upcoming Merge, as analyst Travis Kling weighs in on the altcoin. Kling considers the Merge the biggest catalyst in crypto history. 

The Merge could be the biggest driver of Ethereum price rally 

ETH proponents expect the price to drop amid fears of rising selling interest after Ethereum Foundation revealed that 80.5% of their holdings were in Ether. If treasury holdings are in ETH, there is a likelihood of liquidation for numerous operations or payments to partners or stakeholders, increasing the chances of Ethereum tokens hitting exchanges. 

Two key events, the upcoming Merge and increasing transparency in the Ethereum Foundation could fuel bullish sentiment among investors. Developers at the Ethereum network recently announced a delay in the Merge, sparking fears of a bearish trend reversal as layer-1 solutions gain popularity. The delay in the Merge is considered a warning sign, however, analysts hold opposing views. 

Travis Kling, founder and Chief Investment Officer at Ikigai Fund, believes Ethereum’s Merge could prove to be the biggest catalyst in crypto history. Kling believes the delay pushes the Merge to perfect timing for an Ethereum price rally and could act as a catalyst. 

Kling told Blockworks that

Ethereum’s Merge setup is the single most important event in crypto history. In the history of Bitcoin, there has been nothing this significant or telegraphed.

Kling stated that Ethereum could outperform Bitcoin post the Merge as the most telegraphed event in crypto history goes live. While Bitcoin outperforms after every halving event, Kling believes the Merge is not priced in yet as ETH goes deflationary, yield generating and environment friendly in one single event. As sizeable institutional capital flows into Ethereum, Kling is bullish on the ETH price. 

Analysts at @IncomeSharks believe Ethereum price trend has flipped bullish, and the next move to $3,076 could occur next. 

However, Justin Bennett, a leading crypto analyst and trader, believes there is a further downside in Ethereum price before the altcoin starts its last relief rally. Bennett believes the recent pullback could push ETH lower before it breaks out. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

What Shiba Inu price needs to do to trigger a breakout

What Shiba Inu price needs to do to trigger a breakout

Shiba Inu (SHIB) price is seeing a bit of a pullback and could drop even further in search of support after bulls failed to keep their act together during the recent rally and began grasping at early profits. 

More Shiba Inu News

Former Ripple CTO is dumping millions of XRP, traders beware

Former Ripple CTO is dumping millions of XRP, traders beware

XRP price shows promise that it is ready to trigger a massive run-up as the first half of the year comes to an end. There are three reasons why investors should be bullish on Ripple.

More Ripple News

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Cardano price looks like it will face a massive amount of selling pressure that could lead to choppy price action. However, the fundamental side of things looks good for ADA considering the recent update regarding the highly anticipated Vasil hard fork.

More Cardano News

New sources affirm USDD is on a path to collapse like Terra’s UST

New sources affirm USDD is on a path to collapse like Terra’s UST

Tron launched its stablecoin USDD in May, at the same time as Terra’s sister tokens LUNC (formerly LUNA) and UST were imploding. The stablecoin recently detached from its $1 peg, sparking fears of a crash. 

More Terra News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis