Ethereum Price Prediction – Can ETH Hit $10,000 in the Next Bull Market?
Ethereum price is printing a bullish green candle after bouncing off a triangle support, as analyzed on Wednesday. The largest smart contracts platform has had a difficult time navigating the 2022 bear market run. All attempts to revisit highs above $2,000 have not seen the light of day since ETH dropped to $879 in June.
As investors deliberate which assets will make it into their crypto portfolios in 2023, Ethereum price exchanges hands at $1,197. Stepping above the 50-day Exponential Moving Average (EMA) (in red at $1,255) might call sidelined buyers into the market.
For now, Ethereum price must prove to investors that it can hold above immediate resistance at $1,200 and keep off declines to $1,100 and $1,000, in that order. Analysts seem to be having conflicting predictions for 2023, with some forecasting a sideways trend. The most bullish would like to see Ethereum price above $4,000 by the end of 2022.
Ethereum is a renowned blockchain platform that has revolutionized the cryptocurrency space, with the introduction of smart contracts since its inception in 2015. Smart contracts enabled developers to offer blockchain as a service (baas), build decentralized applications and bring NFTs to life.
The second-largest cryptocurrency’s utility continues to grow exponentially, especially with the transition to a proof-of-stake (PoS) consensus mechanism. According to the author of “Cryptocurrency Investing For Dummies”, Kiana Danial, Ethereum’s value could be attributed to the problems it solves.
“Ethereum is valuable because of the problem that it solves, because of the size of its platform, and the number of people who use it to create their own apps.”
It is difficult to visualize how vast the Ethereum ecosystem is until you
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