It is a fact that Ethereum is among the top cryptocurrencies on the market today. Will it keep its high sustainability in the market? Find out in this Ethereum analysis for September 2022.
According to experts, there is a potential that the asset can get back beyond $4,000 this 2022. The token Ethereum has grown its worth since it was founded in 2015.
Price Analysis for Ethereum
Based on crypto analysts, the price of Ethereum can break $4000 this year. In addition, there is also a chance that the asset can reach between $4000 to $4500 at the end of the year. Meanwhile, the bearish downturn in the cryptocurrency market signifies that ETH value will not increase from sentiment alone.
The price of Ethereum for September 2022 is in a downtrend. The weekly MACD is still low but can create a positive histogram. There is below 50 weekly RSI fluctuation, and the worth is under the 50 SMMA line.
Experts are recently bullish on the short-term Ethereum. On the other hand, there is also a positive analysis of cryptocurrency. At the start of 2022, ETH also had a big bear market. This September 2022, the crypto has an average rate of around $1,394. 69. The maximum and minimum prices are about $1,434.54 and $1,261.87, respectively.
Can an Ethereum overtake Bitcoin?
Even though everything is possible in the cryptocurrency world, the worth of Ethereum is unlikely to overtake Bitcoin. Some also believe that with its uncapped supply, ETH may surpass when it comes to market cap.
Is it worth it to trade with Ethereum?
Are you wondering whether Ethereum is a good investment? There’s no exact answer to this question. It may be worth it to trade ETH if it aligns with your objectives for your investment. The asset can be good for various portfolios. However, you should keep in mind that there are possible risks related to this crypto asset. So, you should be careful in trading.
Price analysis beyond 2022
The price of Ethereum has changed since the start of 2022 from $1700 to $2300. The current value of the crypto is $1970. By the end of 2022, the asset will make new lows to achieve key support. If the worth of ETH bounces off the key support, it can fall to $4000 at the end of the year.
By the end of 2023, Ethereum can experience heavy resistance of around $4000. It will be similar to the similar last bull run. If it breaks such resistance, it can go over its ATH and place a new range of about $6000.
Once the assets come with new ATHs, the crypto industry will be in a painful and long winter. The asset can revisit the key support of about $1,400; the ATH set last 2018.
These are the price analysis of Ethereum beyond 2022. However, like other cryptocurrencies, ETH also has a volatile market. With its unpredictable situation and performance, you should be ready to trade with caution.
Keep in mind that there are also potential risks in trading Ethereum. You better formulate effective trading strategies to improve the quality of your ETH trading.
Fortunately, the team of Ethereum has been working to change the asset to second-generation updates. They plan to transform the platform into Ethereum 2.0, making it cheaper to mint. This way, the investors can develop a product around reduced service fees compared to the recent exorbitant prices.
It may need more positive sentiment for the value to go beyond the $4000 range. In addition, ETH has been experiencing competition from other platforms which offer the same features but with lower fees.
Generally, the price of Ethereum can increase if the asset gets more adoption. Once the price gets to $4000 resistance, the catalyst event may break through at that level. It can be the best tie to launch Ethereum 2.0.
Ethereum can be more sustainable for our environment. The platform can possibly support 1000s of transactions each second. More importantly, there can be faster applications and more affordable transactions.
It is also expected that the asset will have more developments, including features to improve security against counterattacks. It can help the performance of crypto on the market.
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