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Ethereum Price Prediction 2022 | 24 February | ETH Market Update

Ethereum Price Prediction 2022 | 24 February | ETH Market Update

Kavya Barua

Kavya Barua is a voracious learner captivated by crypto and Fintech breakthroughs. Graduated from the University of Delhi's B.A (Hons) English program at Janki Devi Memorial College. She desires to be a successful professional with a strong interest in learning and accomplishing outcomes.

Table of Contents

The Ethereum Price Prediction 2022 is trapped between two massive barriers, squeezing the altcoin into consolidation. The recent retest of the support level indicates that ETH is due for a quick run-up.

Let’s Examine the Ethereum’s Technical Movement:

Ethereum Price Prediction 2022

Due to the recent crash, the price of Ethereum fell and tagged the $2,160 to $2,567 demand zone. This drop is the result of a rejection at the daily supply zone, which ranges between $3,188 and $3,393.

These two factors are significant and are limiting ETH market movement, resulting in a market consolidation due to a lack of volatility.

Regardless, there is enough room for ETH bulls to attempt a minor uptrend on a lower time frame.

As a result, investors can expect Ethereum to bounce off the demand zone and move above the equal highs of $2,762. Clearing this stumbling block will pave the way for a retest of the 50-day Simple Moving Average (SMA) at $2,904.

Ethereum Price Prediction 2022 | 24 February | ETH Market Update imgpsh fullsize anim | BuyUcoin
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This increase would be a 15% increase, and it is likely that the upside for Ethereum price is limited. In a highly bullish scenario, ETH could reach the supply zone’s lower limit of $3,188, bringing the total gain to 24 percent.

This minor uptrend, on the other hand, is entirely dependent on Bitcoin’s directional bias. As a result, a quick flash crash in BTC could see Ethereum price follow suit. In this case, if ETH produces a four-hour candlestick close below $2,160, the bullish thesis will be invalidated.

In this case, investors should expect Ethereum to retest the $1,730 support level.

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Will Ethereum Reach ATH?

Yes, as seen in the previous years, it has reached ATH multiple times.

What Will Ethereum Be Worth in 2022?

It is forecasted by other players in the market to reach more than $4000.

Will Ethereum Go Up 2022?

If the market enters the bull trend, it will definitely reach or cross $5K.

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