Performance in the test will virtually establish a September 19–20 rollout for the Merge, or Ethereum 2.0. Ethereum (ETH) is rebounding over crucial resistance at 1700 as time moves closer to this last Merge test, testing previous peaks. Additionally, the cryptocurrency has recently shown better performance than Bitcoin (BTC).
If the test proves successful, Ethereum (ETH) can be anticipated to move higher leading up to the Merge launch date, moving towards the 200 DMA, and Ethereum (ETH) will probably continue to outpace Bitcoin (BTC), considering that Merge is not yet fully priced into Ethereum (ETH).
Nevertheless, given the excitement surrounding Merge, it could be yet another illusion that does not perform as participants would expect it to. Surely, the Merge will benefit Ethereum (ETH) significantly; however, the behavior of the market has been clearly evident in the cryptocurrency industry over its brief history, as it has been often observed that hyped events frequently result in cryptocurrencies surging towards the event and selling down shortly after the rollout is complete.
In light of this, the lead-up to the Merge date of issue would be the ideal opportunity to gain visibility. However, it might be beneficial to limit exposure, possibly prior to the big day or on the rollout day itself.
