Ethereum Price Prediction: ETH Back Above $1200 – Sustained Recovery or Technical Countermove in Downtrend? | news

The broad crypto market is trading slightly higher over the past 24 hours, with the market capitalization holding just above the $800 billion mark. While bitcoin is trading nearly unchanged at around $16,830, Ethereum is seeing slight gains. Because in the last 24 hours there was a price increase of around 2% – so ETH was able to break above $1,200 again. But the question arises whether the rally this time can really be sustainable or if it is just a technical counter move in the existing downtrend. Alternatively, in the current market environment, one could also take a look at crypto pre-sales, which are used to expand the portfolio and also keep the chance of finding a potential multiplier in the bear market.

Slight recovery in ETH: Ethereum price climbs back above $1200

Ethereum price is up around 2% on a daily basis. On a weekly basis, however, there have been price losses of around 5% and Ethereum has barely budged in the past month. If you look at the 4-hour chart, you can see an interesting price zone after Ethereum also breached the psychologically important $1200 barrier. At best, the gains will continue and reach $1225 in the next stage. If this does not succeed, the recovery could evaporate very quickly and the Ethereum price could retest the level between $1160 and $1170.

The balance of the scholarships keeps falling

While Ethereum price continues to fluctuate in a volatile fashion, the same cannot be said for this on-chain metric. Because the “balance of trade” is currently moving in one direction. Only today did the value hit the next 4-year low. Ethereum holders are moving their ether away from centralized exchanges as the number of addresses holding more than 32 coins (important for Ethereum staking) hits a new all-time high.

Will Ethereum be the new Internet?

We note that the short-term development is still debatable. Whether Ethereum will now recover sustainably remains uncertain – but one can doubt it for the remaining days in 2022. Nevertheless, one could also question whether one should now invest in Ethereum for the long term due to the large potential. Here, too, critics and supporters are currently clashing irreconcilably. While some see Ethereum as the greatest fastball system in history, others predict a decentralized change of custody of the internet by Ethereum.

The truth is likely to lie somewhere in between for the next few years. But one thing is clear – the internet has also been mocked and maligned at times. Today, life in a digitized world without modern technology is no longer imaginable. As the leader in decentralized layer 1, Ethereum has the potential to transform large parts of the world and create an attractive replacement offering. But core businesses will also want a say in shaping the digital future. The extent to which adoption ultimately succeeds over the next decade will depend on various facets. Nevertheless, it seems likely that the Ethereum price in December 2022 is not really expensive in terms of long-term potential.

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More diversification with these three crypto presales

Greater portfolio diversification seems possible with crypto pre-sales, which are naturally less correlated with the general market, since the valuation desired by the market remains to be found after an ICO. At the same time, exciting projects sometimes lurk in the realm of new coins, which are believed to have mid-term price potential – knowing full well that many new cryptos also fail and will never prevail. If you still want to find a potential 10x coin, you can take a look at these three crypto presales.

Fight Out

FightOut is an innovative move-2-earn cryptocurrency that aims to track any type of sports activity in the future. At the same time, officials want to create a Web3 application and at the same time open high-tech fitness studios in the real world, in which sensors of the Move2Earn concept monitor sports units. The focus will be on an intuitive Web3 application.

Learn more about Fight Out

Dash 2 Exchange

Dash 2 Trade is building an innovative platform for crypto analysis and trading signals, which should enable in-depth analysis for private traders in the future. The presale is coming to an end. The ICO is already scheduled for January 11. Now, investors seem to have their last chance to invest in a potential 10x coin that benefits from the growing uncertainty in the digital currency market.

Learn more about Dash 2 Trade

Calvary

The pre-sale of Calvaria’s new NFT trading card game has now raised over $2.5 million. Presales will now end no later than January 31. Recently, a crypto whale has also invested in P2E gambling – apparently you can see a huge upside here after the ICO. Officials want to solve the mass adoption problem in a particularly elegant way and attract mainstream players to Calvaria: Duels of Eternity with a Web2 application.

Find out more about Calvary

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