The total cryptocurrency market cap has been in a range-bound market structure since June ’21. However, the fear and greed index recently showed extreme readings, which may signal a new DCA campaign for Ether. This post will analyze the likely market direction of ETH, based on the current fundamentals, drivers, and chart patterns.
ETH is the currency of the Ethereum network. It’s a digital currency that enables transactions in a decentralized network. It can also be called a kodunuzu ciple. While its price is still in its infancy, it has already shown positive growth over the last few years.
The price of Ethereum may reach record levels by 2022 if several factors come together. Investors should be cautious, however, because the macroeconomic environment is uncertain. The price of ETH may dip as low as $963 in the months ahead. If there is a downturn in the economy, ETH may dip even lower. However, some experts believe that the price could reach $1,700 in December 2022.
The price of Ethereum has continued to climb due to the adoption of blockchain technology. The number of developers and transaction volumes have grown rapidly. Furthermore, Ethereum’s tokens have gained significant brand recognition. Currently, there are over 600 crypto exchanges processing billions of dollars in daily transactions. In addition, neobanks and established fintech giants are entering the crypto market. This makes it easier for users to use cryptocurrency.