The long term price view for Ethereum Coin can only be better determined by applying for Fibonacci Extension over the weekly chart. The FIB retracement indicates that the ETH Coin price may aim for $10000 in the long run.
ETH Coin price can look for continuous growth till the end of the year 2022, aims to complete up to halfway. The projected areas of resistance for the ETH coin reside at $4890,$6840 and finally at $10000. It is to be believed that if ETH Coin manages to overcome through one extension level, then it becomes easier to follow up for the following extension levels.
Steadily Growing Hash Rate is the Key to Success for Ether
According to Etherscan.io, the Hash rate chart of ETH coin signifies very steady growth, and it’s at a high peak. The information on the chart also provides some valuable info like the highest average hash rate and the lowest average hash rate of ETH Coin.
The highest average hash rate of ETH is 1,028,233.4547 GH/s, while the lowest average hash rate is 11.5297 GH/s. Recorded on Tuesday, February 15, 2022, and Thursday, July 30, 2015, respectively.
Vitalik Buterin Expresses his Disappointment
Through the statements mentioned above, Vitalik reminds his followers about the neutrality of Ethereum and points towards himself, claiming he isn’t. Russian-born Vitalik expresses his outrage towards the situation of war and blasts Putin for the Ukraine invasion as the crypto market faces a down surge. Registering his aggressive sentiments towards the current status of Russia invading Ukraine.
Vitalik is among the few Business leaders till now to speak out about Russia’s audacious Invasion in Ukraine. The Ethereum co-founder showed his negative sentiments earlier this month by advising Putin to “Choose-wisely” in making any decision on Ukraine. “An attack on Ukraine can only harm Russia, Ukraine, and humanity,” he wrote on Twitter.
Also Read: Will Ethereum’s price hit $10,000 by 2022?
Short Term View: Is ETH Ready to Retest The $3200 Resistance level?
- ETH Coin price consolidates over the daily chart after coming out of an interesting pattern.
- The crypto asset is trading below all 20, 50, 100 and 200-days DMA.
- The pair of ETH/BTC is trading at 0.0678 BTC with an intraday gain of 0.85%.
ETH Coin is presently trading with sideways momentum. The token is CMP at $2622 and gained more than 13% in the last 24-hour. The trading volume has significantly increased by 35.17%, and the Volume to market cap ratio is 0.08059.
ETH Coin is consolidating in a horizontal range and needs to break out of the range-bound area. The token went into a consolidation phase after coming out of a bearish rally, which was the impact of a cup-with-handle pattern drawn over the daily chart. However, ETH coin has to skip consolidating and needs to be bullish to break out of the neckline at $3289. It’s only a matter of time to observe if bulls manage to sustain their potential at the neckline or fail.
The ETH coin price has been consolidating in a range of $2301 and $2750 from the last few trading sessions. ETH Coin needs to attract more buyers for a strong uptrend until it reaches the neckline over the daily chart. However, the volume change is below the average line and needs to grow for the token to be completely bullish.
If the Price of ETH Slips below $2,100, the Market Will Liquidate Over $500 Million
According to coinglass, a cryptocurrency futures trading & information platform, where investors can get the exact data related to the liquidation of different cryptocurrencies. The total amount liquidated in the last 24-hour over the crypto market is about $391 Million. However, Ethereum, the second-largest cryptocurrency, faced total liquidations of around $126.43 Million in the last 24-hour according to the data provided by coinglass.
If it slips below $2,100. Ethereum, the second largest cryptocurrency may face some rigorous liquidation on its way.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/02/28/ethereum-ready-to-set-new-high-of-10000-in-long-run/