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A closely followed crypto analyst and trader has come up with his prediction for Ethereum (ETH) and other three cryptocurrencies.

The analyst who is called as michael van de poppe michael van de poppe Founder and CEO at eight global Eight Global is led by Michael van de Poppe, the company's founder, and CEO. He is a cryptocurrency trader who works at the Amsterdam Stock Exchange and is enthusiastic about the role of blockchain in the current financial system. Also, he is an author at Cointelegraph who covers everything about fintech, blockchain, and bitcoin, providing the latest news, prices, and analysis on the future of money.In the past, he served as a technical analyst at TradingView, where he was responsible for making technical analyses via the platform of TradingView and distributing these through virtual social media, including Twitter and YouTube. He was the writer of CryptoBenelux, writing articles based on technical analysis and market insights, particularly about Bitcoin. EntrepreneurChief Executive OfficerTraderMarket Analyst Followers : 0 View profile informs his 624,300 fanbase on Twitter that the funding rates have come down ahead of ethereum ethereum Blockchain NetworkTechnology Followers : 0 View profile upcoming transition from proof-of-work (PoW) to proof-of-stake (PoS).

As per the analyst, Ethereum funding rates have declined massively while Ethereum price is rising. Traders and investors are waiting to short ETH as they are expecting that the Merge will fail. Also they feel that this is a bear market rally and the currencies will drop in the days to come.

Van de Poppe provides a chart that was created by Quincy Diepeveen which gives us the data of the ETH funding for the whole 2022. The latest stats depicts that the funding is negative.

Funding on $ETH remains extremely negative, while $ETH is running upwards.

People are eager to short $ETH as; Expectations are Merge will fail. It's a bear market relief rally. Markets will only drop further downwards.

Max pain is on the upside.

Good chart, @QDiepeveen. pic.twitter.com/GnfIIBNmVN

Moreover, the strategist claims that most cryptocurrencies are heading towards testing their resistance area once the market enters a recovery stage following the weekend drop. This will also see Ethereum price trading above $2,000.

Van de Poppe believes that there is a recovery seen in the markets and ETH is about to hit $2,200 as the Merge is just around the corner. The analyst expects Ethereum price to continue its price surge even when Bitcoin hitting $19,000 is not clear.

At the time of writing, Ethereum is selling at $1,544 after a drop of 2.88% over the last 24hrs

Decent retests across markets happening and $ETH, for instance, is still on the path towards $2,200 as one of the biggest events is approaching -> the Merge.

I'm still expecting continuation of this upwards structure, whether or not #Bitcoin sweeps $19K for liquidity.

Next, the analyst talks about fantom fantom [emailprotected] Blockchain Network Followers : 0 View profile (FTM) and hopes that this Ethereum competitor will continue its positive price trend. The currency had recently plunged towards $0.40.

Then he says that Fantom should surge above $0.29 to hit the target of $0.35

Request 01 $FTM

This one looks ready for continuation, which is similar to the entire market.

It needs to break and flip $0.29 and then $0.35 is possible. pic.twitter.com/u0aNvni66A

Currently, Fantom is trading at $0.265 with a fall of 6.58% in the last 24hrs.

The next altcoin that has caught the attention of strategists is Theta Network (THETA) which is a peer-to-peer video distribution network. This altcoin has been trading downwards below $2 since the May crash.

The analyst predicts two key level resistance for THETA and they are $1.20 at first and this is followed by $1.60. He says that its either fall or reclaim for Theta Network.

Request 03 $THETA

This one is very simple, just like many coins here.

Looking for 2 triggers; Either sweep of lows and reclaim. Break above $1.20 for continuation trigger.

Target then; $1.60. pic.twitter.com/DeMCzq6QAS

At the moment, THETA is valued at $1.14 with a downward trend by $3.99 in the last 24hrs.

The last currency in the analysts list is Skale (SKL), Ethereum scaling solution. According to Van de Poppe Skale is awaiting a push after which the price will see a breakout.

At the time of publication, Skale is changing hands at $0.047 after a plunge of 5.56% over the last day.

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Here Is How Ethereum (ETH), Fantom (FTM) and Two Other Altcoins Are Set To Perform, Per Analyst - Coinpedia Fintech News