The success of Goerli, the third and last test of the Ethereum merge, makes it possible to envisage the arrival of Bellatrix on the mainnet on September 15, then of Paris, which will finalize the process.
This is a major event in its history, the objective being to migrate the blockchain from proof of work to proof of stack. This implementation once completed will pave the way for other steps such as scalability (sharding) which will allow ETH to not only reduce the cost of operations but also to process up to 100,000 transactions per second against only 15 to 20 per second currently.
Vitalik Buterin, the co-founder of Ethereum, said that once the update was complete, the blockchain would only be 55% “complete”.
According to Tim Beiko, Paris is scheduled to trigger once the Terminal Total Difficulty (TTD) reaches 58,750,000,000,000,000,000,000.
Following the success of the various mergers of Ethereum on the testnet, its price rose 100% in one month from its low around $989 to its high at $2015. (see below).
Currently the price of ETH is around $1876 supported by the Kijun span (yellow line) and the Tenkan (green line) however the resistance of the cloud persists.
It will therefore have to be punctured in order to target $2335, otherwise the price could reach the first resistance at the Tenkan level at $1503 then to its lowest around $989. (see below).
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Kader Djellouli
Market Analyst
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