Ethereum has lost 0.19 percent in the last 24 hours, according to the most recent data. When we look at the market’s performance over the last seven days, we can see that it has stayed favorable. Over the last seven days, it has gained 2.28 percent. This coin’s graph reveals that it reached its highs a few days ago and then gradually declined.
As the gains for Ethereum fluctuated, the market for it continued to vary. The alteration has been constant since the previous day, as evidenced by an obvious shift in the pattern. Despite the fact that Ethereum has been leading the increases, it has been trailing Bitcoin for the past 24 hours.
Ethereum Price Forcast
ETH price initiated a fresh decline below the $3,100 level. The largest altcoin even traded below $3,050 and is now struggling to stay above the $3,000 support level. The next support level lies at $2990, below which the ETH price might plunge harder to hit $2500 in the worst case.
However, if Bulls remain strong and stay above the $3k level, the ETH/USD price can see a recovery and test the first resistance level at $3,050 followed by the $3120 Level.
ETH to Outperform BTC Soon
According to a new estimate from fintech firm Finder, Ethereum (ETH), the world’s second-largest cryptocurrency, might outperform Bitcoin (BTC) in 2022.
For the better part of the year, BTC has been trading in a narrow price range. Several traders have become disillusioned with the token’s prospects, preferring to invest in altcoins instead.
In a paper on Bitcoin price estimates, a panel of 35 crypto experts predicted that Ethereum (ETH) will outperform Bitcoin by a large margin by 2022. In the list of top-performing currencies for 2022, members chose ETH over BTC and Solana. In the previous 60 days, ETH has outperformed BTC by more than 19%.
ETH is ranked as one of the top five tokens by 87 percent of experts. Bitcoin was chosen by 71%, and Solana was chosen by 55%. Avalanche and Terra were both suggested by 31% and 30% of the experts, respectively.
The next Ethereum update has already set the stage for ETH to soar this year. Avalanche and Terra, meanwhile, have made it into the top five tokens.
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Source: https://coinpedia.org/altcoin/top-reasons-why-ethereum-eth-is-set-to-outperform-bitcoin-in-2022/