Economist and crypto trader Alex Kruger believes that Ethereum (ETH) could rally as it transitions to a proof-of-stake consensus mechanism, colloquially known as the merge.
Kruger tells his 145,500 Twitter followers that the August inflation numbers as measured by the US Consumer Price Index (CPI) indicator, which is next scheduled to be released on September 13th, will boost risk assets over the short term.
Consequently, Kruger says that Ethereum could surge by up to 28% from the current levels.
“If trading ETH directionally for the merge probably want to go long into the event with stops right above the August lows and shoot for a $1,700 break to take price into the $1,800 – $2,100 range. Expect CPI next week to give risk assets a