en.ethereumworldnews.com
TLDR:
- Crypto Expert and Macro Guru Raoul Pal declared on Twitter today that he believes most participants are still underweight in Ethereum.
- The Founder of Real Vision Academy followed on to say that the pain will be at higher entry points, around $2,300.
- Raoul Pal was famously previously bullish on Ethereum on October 29, 2021, where he confirmed he was “irresponsibly long” via a tweet that has been shared many times since on social media.
- Ethereum merge, which will mark the end of POW and transition to POS is scheduled in September.
Real Vision Academy founder and macro guru Raoul Pal posted his thoughts on Ethereum earlier today via his official Twitter account.
According to Pal, Ethereum, the second highest digital asset by market cap, has higher to go in terms of price. The crypto expert believes that most participants in the market are underweight Ethereum and are expecting failure at resistance.
Raoul Pal’s view is that the more significant battle with resistance will be around $2,300. Ethereum’s price is currently $1,768.32%, and the coin has increased 3.3% in the last 24 hours.
ETH – I still think the path of pain is higher as most participants are still underweight and looking for lower entry points.
— Raoul Pal (@RaoulGMI) August 8, 2022
Most people expect a failure in this zone of resistance…
1/ #Ethereum pic.twitter.com/mdC3gBOvaN
Raul Pal was “Irresponsibly Long” Ethereum near the market top.
Raul Pal shared his market thoughts previously and most famously on October 29, 2021 when he posted a tweet on being “irresponsibly long” on Ethereum.
This tweet faced a lot of criticism on social media, as, at the time, the price of Ethereum was $4,288.10, and it was only a few weeks after the markets crashed, and crypto prices dropped severely when some reached pre-covid prices.
Ethereum Merge scheduled in September
It is important to note that the Ethereum Merge is scheduled soon, with a tentative date of September 19. Ethereum price has increased 43.5% in the past 30 days anticipating the merge. The Ethereum merge will mark the end of proof of work on Ethereum and the full transition to proof of stake. The merge is set to reduce Ethereum’s energy consumption by approximately 99.95 % according to Ethereum’s official website.