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.
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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