Ethereum to $2,000? Chart Patterns in September Hint On A Price Rise

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Ether (ETH) is showing significant signs that it’s ripe and ready for its September bullish speculation compared to USD and BTC. Anyone holding ETH knows how crucial September is for the dApps king blockchain.

Finally, Ethereum will entirely run on a POS network, and that’s set to bring a positive impact on ETH’s price.

ETH Bullish Hints

The bullish setup of this coin starts from the classical technical indicators ETH/BTC and ETH/USD. An excellent example is the formation of a ‘falling wedge pattern’ in ETH/USD’s price action coupled with a 30% profit setting from its current price.

On the other hand, ETH/BTC shows a speculative bull flag that could push the price up by 10% from the current price.

Will ETH hit $2,000?

Typically, the falling wedge pattern forms when crypto prices lower inside a descending and contracting channel. However, this pattern resolves once the price action breaks the upper trendlines. More importantly, the bullish run is as high as the distance between the upper and lower sections of the edge of the wedge pattern.

That said, the price of ETH has been in a descending trend since mid-August forming the falling pattern wedge. The price recently retested the structure’s lower trendline and then went up to the upper trendline.

Speculatively, this price could go all the way up to $2,000 once the Merge happens. More importantly, this target could be a junction as ETH moves to $2,500. In simple terms, ETH’s price has the potential to witness close to 50% growth within this month, all thanks to the Merge.

All in all, you need to remember that the market can go both ways. Chances are, this price target could reverse and continue its falling wedge movement throughout the month despite the upgrade. So, take your time to do your own research and always risk capital that you can afford to lose.