Ethereum Price Prediction — Will ETH Hit $5K Soon?

Ethereum Price Prediction — Will ETH Hit $5K Soon?
  • Bullish ETH price prediction is $2915.89 to $4886.50.
  • The ETH price will also reach $5K soon.
  • ETH’s bearish market price prediction for 2022 is $1721.75.

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

Ethereum Current Market Status

According to CoinGecko, the price of ETH is $2,642.77 with a 24-hour trading volume of $18,011,197,108 at the time of writing. However, ETH has decreased nearly 3.9% in the last 24 hours.

Moreover, ETH has a circulating supply of 119,763,397 ETH. Currently, ETH trades in cryptocurrency exchanges such as Binance, OKX, BTCEX, BitCoke, and FTX. 

What is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. The self-determined goal of Ethereum is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud. Moreover, Ethereum has pioneered the concept of a blockchain smart contract platform. Moreover, smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet.

Factors Influencing ETH Price

When it comes to the price factor of Ethereum (ETH), each and every day gives rise to a new prominent reason for its spiking up. Furthermore, true to the fact that ETH is constantly in evolution with respect to profuse developments constantly. Amidst this, there are many factors responsible for a direct influence upon the price of ETH. 

-The Mining 

ETH is one of the few cryptos that could be mined evidently. In spite of this, the mining profitability of ETH is one important factor. Upon mining of ETH, the miners have the potential to hold up their mined ETH till the prices rise up and sell them at profits. 

Moreover, profuse mining at the same time leads to lesser mining profitability. Therefore, over mining at the same time also affects the price of ETH profusely. 

-The Coin Burns

It’s a well-known fact that the ETH is a deflationary token. And so, the ETH platform usually conducts their coin burns periodically. This is done in order to create an insufficiency in the supply of ETH , which directly leads to rise in its price. Most crypto enthusiasts know that once ETH starts its burn, the price of ETH is said to reflect rising up the next few days. 

-The Blockchain Entities

This is the foremost and one of the major reasons for the standard growth of ETH. Hence more, the ETH is backed up by its prolific blockchain platform, which is open to almost all the entities of a blockchain. These entities are the non-fungible token (NFT), the Decentralized Finance (DeFi), Decentralized Applications (DApps), blockchain-gamings and so on. In spite of all this, as the market values of the NFT platforms, DeFi platforms, DApps market, blockchain-gaming market all rise up, this will directly impact the price of the ETH, making it spike up in fulsome. 

-Blockchain Innovations and Developments

This factor is obviously necessary for each and every blockchain-based crypto in the industry. Coming out and releasing a profuse blockchain platform alone wouldn’t make the platform stable over time. Moreover, constant research, development, and innovations with respect to ease of use, efficiency, lower prices, and higher transaction speeds are the key elements towards the future of a blockchain platform.

Pros and Cons of ETH

Pros of ETH 

  • Ethereum is the best pair for DeFi as it provides a complete financial freedom to the end-users.
  • Users can gain their private ownership without any over rules from intermediaries.
  • NFTs and Ethereum are the perfect combo which provides digitally unique authorization.
  • NFTs avoid the replica for all Etherum based assets and properties.
  • DAOs smart contracts help ETH users to send and receive funds around the globe without any central authority.
  • Ethereum’s interconnected Dapps empowers the network to create new business models and financial services. 

Cons of ETH

  • The unstableness of the Ethereum blockchain which often undergoes many changes disturbing the structure of the network.
  • Ethereum serves as a multifunctionality feature which increases the possibilities of breakdowns and hackings of the network. 
  • ETH users are migrated to more stable networks due to its very high transaction fees.
  • The network charges the users even for the failed transactions due to insufficient gas fees. 

Ethereum (ETH) Price Prediction 2022

Ethereum holds the 2nd position on CoinGecko right now. ETH price prediction 2022 is explained below with a monthly time frame.

ETH/USDT Triangle Pattern (Source: Tradingview)

Triangle patterns are aptly named because the upper and lower trendlines ultimately meet at the apex on the right side, forming a corner. Henceforth, connecting the start of the upper trendline to the beginning of the lower trendline completed the other two corners to create the triangle. The upper trendline is formed by connecting the highs, while the lower trendline is formed by connecting the lows. Connecting the swing highs with a trendline and the swing lows with a trendline creates a triangle pattern where the two trendlines are moving towards each other.

Currently, ETH is in the range of $2,642.77. If the pattern continues, the price of ETH might reach the resistance level of $3394.06. If the trend reverses, then the price of ETH may fall to $2291.50.

Ethereum (ETH) Support and Resistance Level

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

      ETH/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 ETH.

Resistance Level 1$2915.89
Resistance Level 2$3393.65
Resistance Level 3$4025.30
Resistance Level 4$4886.50
Support Level 1$2288.35
Support Level 2$1721.75
ETH Resistance & Support Level

The charts show that ETH has performed a bullish trend over the past month. If this trend continues, ETH might run along with the bulls overtaking its resistance level at $4886.50.

Accordingly, if the investors turn against the crypto, the price of the ETH might plummet to almost $1721.75, a bearish signal.

Ethereum Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of ETH 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 ETH lies below the cutoff line, indicating weaker participants in the current trend.

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

More so, the ETH’s Moving Average (MA) is shown in the chart above. Currently, ETH is in a bearish state. Notably, the ETH 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 ETH at any time.

Meanwhile, the relative strength index (RSI) of the ETH is at level 44.27. This means that ETH is in a nearly oversold state. However, this means a major price reversal of ETH may occur in the upcoming days. So, traders need to trade carefully. 

Ethereum Price Prediction 2022 — ADX, RVI

Let us now look at Ethereum’s 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. More so, this system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

ETH/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Ethereum. Currently, ETH lies in the range of 14.73, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of ETH. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ETH lies below the 50 levels, indicating that the direction of volatility is low. In fact, ETH’s RSI is at 44.27 level thus confirming a potential sell signal.

Comparison of ETH with BTC, ETH

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

BTC Vs ETH Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the BTC and ETH is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH also increases or decreases respectively.

Conclusion

With continuous improvements in the Ethereum network, we can say that 2022 is a good year for ETH. For this reason, the bullish price prediction of Ethereum in 2022 is $4886.50. On the other hand,  the bearish ETH price prediction for 2022 is $1721.75.

Furthermore, with the advancements and upgrades on the ETH ecosystem, the performance of ETH would help to reach above its current all-time high (ATH) $4,878.26 very soon. But, it might also reach $5K if the investors believe that ETH is a good investment in 2022.

FAQ

1. What is Ethereum?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. 

2. Where can you purchase ETH?

ETH has listed on many crypto exchanges which include Binance, OKX, BTCEX, BitCoke, and FTX. 

3. Will ETH reach a new ATH soon?

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

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

On November 10, 2021, ETH reached its new all-time high (ATH) of $4,878.26.

5. Whether Ethereum Network is secured?

Ethereum blockchain is secured through the Ethash proof-of-work algorithm, belonging to the Keccack family of hash functions.

6. What is ETH 2.0?

ETH 2.0 refers to the set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable.

7. Is ETH a good investment in 2022?

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

8. What is the best Ethereum Wallet?

Some of the best Ethereum Wallets are Trezor One, Metamask, Ledger Nano S, Exodus, Mist.

9. Can Ethereum (ETH) reach 5K?

Ethereum (ETH) is one of the active cryptocurrencies that continue to maintain its Bullish state. Eventually, if this bullish trend continues then Ethereum (ETH) will hit $5K soon.

10. What is the advantage of the Ethereum blockchain?

The main advantage of the Ethereum blockchain is high volatility, liquidity, and lower danger of inflation.

11. What will be the ETH price by 2023?

Ethereum (ETH) price is expected to reach $5250 by 2023.

12. What will be the ETH price by 2024?

Ethereum (ETH) price is expected to reach $5874 by 2024.

13. What will be the ETH price by 2025?

Ethereum (ETH) price is expected to reach $6345 by 2025.

14. What will be the ETH price by 2026?

Ethereum (ETH) price is expected to reach $7k 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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