- Ethereum price shows a strong surge in buying pressure as it attempts to move past the $1,730 resistance level.
- A successful flip of this level could trigger a swift rally to $2,147.
- However, a rejection at $1,730 opens the path for a correction to $1,446.
Crypto markets anticipate ETH forks heading into Merge
Ethereum price has been at the center of speculation for quite some time due to the upcoming Merge update. As a result, there have been forecasts of what the future could hold, not just for users, but also from a miners’ perspective.
Some predict that the ETH main chain might undergo a split, where one chain retains the Proof-of-Work (PoW) hashing algorithm and the other proceeds with the Proof-of-Stake (PoS). The most recent update includes the listing of ETH PoW blockchain on exchanges. The ETHW ticker, owned by Justin Sun, is a PoW fork that has been listed on the Poloniex exchange.
BREAKING: Poloniex will be the FIRST exchange to support EthereumPoW (ETHW). @Poloniex @justinsuntron
— ETHPoW (@EthereumPoW) August 3, 2022