Ethereum (ETH) has struggled to recover from the 2022 bear market, with several failed attempts to reach highs above $2,000 since dropping to $879 in June. However, the current bullish green candle could indicate that Ethereum is finding support from a triangle pattern.
Ethereum is currently traded at $1,197as investors consider which cryptocurrencies to add to their portfolios for 2023. Crossing the 50-day exponential moving average (EMA) at $1,255 could potentially attract more buyers to the market.
For now, Ethereum price needs to prove to investors that it can hold above the immediate resistance of $1,200 and prevent a drop to $1,100 and $1,000. Analysts seem to have conflicting forecasts for 2023, with some predicting a sideways trend and the most optimistic hoping it will be. Ethereum price to see above $4,000 by the end of 2023.
Ethereum Price Prediction: $10,000 ETH Coming?
Ethereum is a renowned blockchain platform that revolutionized the crypto space with the introduction of smart contracts in 2015.
The benefit of second largest cryptocurrency continues to grow exponentially, especially with the shift to a Proof-of-Stake (PoS) consensus mechanism. According to Cryptocurrency Investing For Dummies author Kiana Danial, the value of Ethereum can be attributed to the problems it solves.
“Ethereum is valuable because of the problem it solves, the size of its platform, and the number of people who use it to build their own applications.”
It’s hard to imagine how vast the Ethereum ecosystem is until you learn that the blockchain platform hosts over 44 million smart contracts.
The highly anticipated Shanghai upgrade in Q1 2023 will introduce mechanisms to reduce gas charges and support scaling through sharing technology.
Additionally, Ethereum reached over 200 million unique addresses this week, according to Etherscan.
The above stats show the value of the Ethereum platform and confirm the potential for a $10,000 upside.
Just last week, a Bloomberg analyst predicted that ETH would outperform BTC in 2023 based on its fundamentals.
What would have to happen for Ethereum price to reach $10,000?
Ethereum price has an uphill battle ahead to break free dominant downtrend to release, which lasted all of 2022.
Many analysts believe that it is next to impossible for the cryptocurrency to hit $10,000 in the next 12 months. However, it is important to remember that anything is possible in the world of cryptocurrencies.
Ethereum is currently trying to move above $1,200 and the 50-day exponential moving average. It should be noted that Ether is down more than 75% from its all-time high of $4,878 in November 2021, which means it should see an upward move of around 700% to reach 10 $000.
Although this seems unlikely, it should be noted that Ethereum has jumped over 700% on several occasions in the past. For example, in the last cycle, Ethereum fell from around $80 to $4,800.
Current macroeconomic conditions and cryptocurrency market dynamics are different from 2021 and 2017, making it difficult to predict whether Ethereum will be able to surge against the odds and hit $10,000.
However, major upcoming Ethereum upgrades have the potential to significantly improve network scalability and capacity. If these upgrades go well, the price of ETH could rise sharply again and reach over $10,000 in the coming years.
- Is Ethereum price capable of reaching $10,000 by the end of 2023? Yes. But that’s unlikely.
- The Shanghai upgrade in the first quarter of 2023 will have a positive impact on the price of ETH if all goes well.
- Investors are expected to have access to stacked ETH for the first time in Q1 2023.
Ethereum developers will start working on sharding with the Shanghai upgrade.
Promising Altcoins to Consider for 2023
Crypto markets are in a downtrend, but new altcoins with promising prospects and early access can help investors recover from winter crypto losses. Here are some pieces with great potential in 2023.
FightOut (FGHT) – start of presale
FightOut, a brand new move-to-earn (M2E) app and gym chain aimed at bringing the fitness lifestyle to web3, has opened its pre-sale and investors believe the project could transform the web3 landscape Existing M2E.
While existing M2E apps like STEPN only track steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their movements and activities and does not require expensive purchase to participate.
FightOut FGHT tokens are currently selling for $60.06 for 1 USDT and interested investors should hurry to secure their tokens as the presale has already raised almost $2.45 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
Now at FightOut
Dash 2 Trade (D2T) – Presale enters final stage
Those looking to invest in a promising crypto trading platform startup should check out Dash 2 Trade. The burgeoning social analytics and trading platform hopes to take the crypto trading space by storm with a variety of unique features.
These include trading signals, social sentiment indicators and on-chain indicators, pre-sale token rating system, token list alert system and tool strategy testing. The Dash 2 Trade ecosystem is powered by the D2T token, which users must purchase and hold to access platform functionality.
Dash 2 Trade is currently conducting a token presale at heavily discounted prices, and sales recently topped $11.2 million. The Presale Dashboard will be released shortly as the development team is currently ahead of schedule. The tokens are currently selling at $0.0533 each and will be listed on several key exchanges in less than a month.
Now let’s move on to Dash 2 trading
The current electric vehicle (EV) charging system is insufficient, for example because it is not standardized. On the other hand, the carbon credit industry, which is expected to be worth $2.44 trillion by 2027, is dominated by big companies like Tesla, excluding people driving electric vehicles.
However, C+Charge hopes to dramatically change this picture by creating a blockchain-based peer-to-peer (P2P) payment system for EV charging stations, allowing EV drivers to purchase carbon credits.
C+Charge users will be able to pay to charge their vehicles and earn carbon credits – stored in an app – with CCHG, the token that powers the ecosystem. The C+Charge presale recently launched and has raised $37,000 so far. Investors can buy 1 CCHG for 0.013 USDT, but the price will soon drop to 0.0165 USDT.
Now let’s move on to C+Charge