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 visit 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 happens to be $1,768.32%, plus the coin has increased 3.3% within the last a day.
ETH – I still think the road of pain is higher because so many participants remain underweight and searching for lower entry points.
A lot of people expect failing on this zone of resistance…
1/ #Ethereum pic.twitter.com/mdC3gBOvaN
– Raoul Pal (@RaoulGMI) August 8, 2022
Raul Pal was “Irresponsibly Long” Ethereum close to the market top.
Raul Pal shared his market thoughts previously & most famously on October 29, 2021 when he posted a tweet on being “irresponsibly long” on Ethereum.
This tweet faced plenty of criticism on social media marketing, as, at that time, the price tag on Ethereum was $4,288.10, also it was just a few weeks following the markets crashed, and crypto prices dropped severely when some reached pre-covid prices.
Source: Coingecko.com
Ethereum Merge scheduled in September
You will need to remember that the Ethereum Merge is scheduled soon, using a tentative date of September 19. Ethereum price has increased 43.5% before 1 month anticipating the merge. The Ethereum merge will mark the finish of proof focus on Ethereum and the entire transition to proof stake. The merge is defined to lessen Ethereum’s energy consumption by approximately 99.95 % in accordance with Ethereum’s official website.