Boba Network Price Prediction 2022 — Will BOBA Hit $5 Soon?

Boba Network Price Prediction 2022 — Will BOBA Hit $5 Soon?
  • Bullish BOBA price prediction is $1.7433 to $2.9954.
  • The BOBA price will also reach $5 soon.
  • BOBA’s bearish market price prediction for 2022 is $1.0048.

In Boba Network’s (BOBA) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about BOBA to analyze the future movement of the cryptocurrency. 

Boba Network Current Market Status

According to CoinGecko, the price of BOBA is  $1.05 with a 24-hour trading volume of $1,045,479 at the time of writing. However, BOBA has decreased by nearly 3.5% in the last 24 hours.

Moreover, BOBA has a circulating supply of 158,960,846 BOBA. Currently, BOBA trades in cryptocurrency exchanges such as Bybit, FTX, Huobi Global, DigiFinex, and Gate.io.

What is Boba Network (BOBA)?.

Boba is an L2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation. Boba is the next generation Ethereum Layer 2 Optimistic Rollup scaling that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts. To support the Boba network, BOBA was created, it is the governance token of the Boba DAO, which can also be staked to earn rewards on Boba Network. 

Boba’s extensible smart contracts will enable developers across the Ethereum ecosystem to build dApps that invoke code executed on web-scale infrastructure such as AWS Lambda, making it possible to use algorithms that are either too expensive or impossible to execute on-chain. 

Boba Network (BOBA) Price Prediction 2022

Boba Network holds the 285th position on CoinGecko right now. BOBA price prediction 2022 is explained below with a weekly time frame.

BOBA/USDT Descending Channel Pattern (Source: Tradingview)

A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. It is a bearish chart pattern defined by a trendline supporting the series of lower lows and a diagonal resistance level connecting the lower highs. A descending channel is the exact opposite of an ascending channel. When the price is around the upper trendline, look for short opportunities, although aggressive traders could trade long and short at both trendlines looking for a bounce or pullback. Descending channels are useful due to their ability to predict overall changes in trends. 

Currently, BOBA is in the range of $1.05. If the pattern continues, the price of BOBA might reach the resistance level of $1.7420 & $2.2154. If the trend reverses, then the price of BOBA may fall to $0.9895.

Boba Network (BOBA) Support and Resistance Level

The below chart shows the support and resistance level of BOBA.

BOBA/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of BOBA.

  • Resistance Level 1 – $1.7433
  • Resistance Level 2 –  $2.2102
  • Resistance Level 3 – $2.9954
  • Support Level  – $1.2795
  • Support Level  – $1.0048

The charts show that BOBA has performed a bullish trend over the past month. If this trend continues, BOBA might run along with the bulls overtaking its resistance level at $2.9954.

Accordingly, if the investors turn against the crypto, the price of the BOBA might plummet to almost $1.0048, a bearish signal.

Boba Network Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of BOBA is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of BOBA lies below the cutoff line, indicating weaker participants in the current trend.

BOBA/USDT RVOL, MA, RSI (Source: TradingView)

More so, the BOBA’s Moving Average (MA) is shown in the chart above. Currently, BOBA is in a bearish state. Notably, the BOBA price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BOBA at any time.

Meanwhile, the relative strength index (RSI) of the BOBA is at level 35.51. This means that BOBA is in a nearly oversold state. However, this means a major price reversal of BOBA may occur in the upcoming days. So, traders need to trade carefully. 

Boba Network Price Prediction 2022 — ADX, RVI

Let us now look at Boba Network Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

BOBA/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Boba Network. Currently, BOBA lies in the range of 26.3516, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of BOBA. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of BOBA lies below the 50 levels, indicating that the direction of volatility is low. In fact, BOBA’s RSI is at 35.51 level thus confirming a potential sell signal.

Comparison of BOBA with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Boba Network.

BTC Vs ETH Vs BOBA Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ATH and BTC is moving at the same level as the trend. But the price of BOBA moves in a downward trend. Therefore BTC and ETH increase BOBA decreases, if BTC and ETH decrease BOBA increases.

Conclusion

With continuous improvements in the Boba Network network, we can say that 2022 is a good year for BOBA. For this reason, the bullish price prediction of Boba Network in 2022 is $2.9954. On the other hand,  the bearish BOBA price prediction for 2022 is $1.0048.

Furthermore, with the advancements and upgrades on the BOBA ecosystem, the performance of BOBA would help to reach above its current all-time high (ATH) $7.93 very soon. But, it might also reach $5 if the investors believe that BOBA is a good investment in 2022.

FAQ

1. What is a Boba Network?

Boba is an L2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation. 

2. Where can you purchase BOBA?

BOBA has listed on many crypto exchanges which include Bybit, FTX, Huobi Global, DigiFinex, and Gate.io.

3. Will BOBA reach a new ATH soon?

With the ongoing developments and upgrades within the BOBA platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Boba Network?

On November 25, 2021, BOBA reached its new all-time high (ATH) of  $7.93.

5. Is BOBA a good investment in 2022?

Boba Network (BOBA) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BOBA in the past few months, BOBA is considered a good investment in 2022.

6. Can Boba Network (BOBA) reach $5?

Boba Network (BOBA) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Boba Network (BOBA) will hit $5 soon.

7. What will be the BOBA price by 2023?

Boba Network (BOBA) price is expected to reach $9 by 2023.

8. What will be the BOBA price by 2024?

Boba Network (BOBA) price is expected to reach $16 by 2024.

9. What will be the BOBA price by 2025?

Boba Network (BOBA) price is expected to reach $23 by 2025.

10. What will be the BOBA price by 2026?

Boba Network (BOBA) price is expected to reach $30  by 2026.            

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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