BTC
Bitcoin
ETH
Ethereum
BCH
Bitcoin Cash
USDT
Tether
XLM
Stellar
ADA
Cardano
LINK
Chainlink
XRP
XRP
LTC
Litecoin
CRO
Crypto.com
Ethereum logo with growing graph on background

Ethereum Price Prediction – Can Ethereum Break $6000 in 2022? ETH Price Forecast 

· in Analysis
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi
Register for UTB Token Exclusive Presale Access

(Updated May 21, 2022)Ethereum will hit half a decade this coming July since launch, and if everything goes well, it will initiate its transition to ETH 2.0, which will solve scalability issues. That will be quite remarkable for the platform that brought smart contracts and dapps to the blockchain. Progress on its development will rally its huge community, and this will have a positive effect on its price, which has underperformed over the past two years. So far, we see evidence of positive momentum in 2020 as several factors conjure to spur ETH price.

In this Ethereum price prediction, we are going to analyze the latest news and developments, price history and evolution over the past two years, and TradingView charts as we try to find out why Ethereum price is likely to break past $300 by the end of the year. Also, we will include some expert predictions on why this is a bullish year for ETH.

Buy Ethereum on Binance today!

Notable Ethereum news & Plans for 2022 and beyond

Vitalik Shares His Vision For ETH 2.0 Development 

In a tweet made last month, Vitalik Buterin shared his vision and personal roadmap for ETH 2.0 development. The tweet covers the next five to ten years of the project development. 

The Ethereum cofounder emphasized that research and development would go on despite recent challenges. According to him, moving forward, there should be less fear of complexity with the system update as the upcoming changes should address previous issues. 

In a tweet he noted:

“The “quadratic sharding as the end of history” approach ensures there will not need to be a further upgrade as large as the eth1 -> eth2 one; rather, from eth2 onwards, things will be much more incremental.”

Reflecting on the last two years of Etherum’s development, he added that:

“In general, over the last ~2 years, there has been a solid shift from “blue sky” research, trying to understand what is possible, to concrete research and development, trying to optimize specific primitives that we know are implementable and implement them.”

Earlier last month, Vitalik speaking to a crypto media publication noted that Ethereum’s main goal for the year was to launch Phase 0 of ETH 2.0. after this, ETH 2.0 will begin as independent proof of stake network. 

Vitalik’s comments on the progress came just a month after Justin Drake, an Ethereum 2.0 researcher, informed the public via Reddit that they planned to upgrade the network on its ‘fifth anniversary, July 30, 2020.’ The assurance from Vitalik and developers has aided ETH price as the coin is 31% up since the beginning of the year. 

According to Sharan Nair, the chief business officer at CoinSwithch.co and CRUXPay, “Investors likely bought into the promise of ETH 2.0, which is said to scale the Ethereum blockchain significantly,” Also, some investors may have snapped up coins for staking after the protocol upgrade.”

Ethereum Price Is Getting A Boost From Growth of DeFi

Data from DefiPulse indicates that the decentralized finance (DeFi) space exploded in 2019. The total value locked (TVL) in protocols rose from $320 million to over $670 million. 

Ethereum Price Prediction

And on February 15, the TVL rose further to a record high of $1.219 billion. According to Nair, “the numbers tell us that investors see DeFi to be truly disruptive and believe it can replace traditional finance, leading to increased accumulation of ether.”

MakerDAO, a lending platform, is currently the largest DeFi project with a 49.81% dominance. Most of the popular projects on the list are based on Ethereum’s blockchain, and this explains why we are witnessing the growth of the ETH price alongside that of DeFi. 

Also, the number of Ethers locked in DeFi rose from 1.912 million to 2.921 million between January 1, 2019, and Dec.31,2019. The number increased further to a high of 3.192 million on Jan.29,2020 before dropping to 2.71 million this week.

Ethereum (ETH) 2018-2020 Historical Price Analysis 

Ethereum charts 2018 – 2020 coinmarketcap.com

The beginning of 2018 saw Ethereum peak in price achieving its all-time high on January 14 of $1,400. However, that is as good as it got as a steady decline set on with high price volatility throughout the year. By April 5, 2018, the price had dropped to $370 before doubling to $790 by May 5th same period. But, that would be the last time the ETH price would see such highs as a steady decline set on which saw the coin end the year at $137. (Calculate the %)

2019 was a more consistent year for Ethereum even though there were the price fluctuations, which is common in crypto; they were quite minimal. The price managed to hold between $130 to $300 throughout the year, with a peak of $332 being achieved on June 27, 2019.

2020 began at the $130 level, and there was a steady rise in price, culminating to the year’s peak so far of $280 on February 15. The price held above $200 for almost a month before dropping from the zone on March 11. A steady decline was recorded on March 12, with the price dropping from $194 to $135 (calculate the %). Since then, the price has held within the $130 to $170 range.

With the period Ethereum lost and reclaimed the second position on market capitalization from XRP. 

Ethereum price in 2020 and 2021

Ethereum has experienced a very positive 2021 preceded by a positive 2020. The second-largest cryptocurrency in the world started with a very negative 2020 with its price falling close to $120 per coin. This was devastating for the community, but it was not enough to stop Ethereum from moving higher and reaching new highs in 2021. 

Ethereum recovered throughout the year (2020). It was able to do so slowly but constantly, this is something that allowed investors to enter the market and build a strong base for 2021. Indeed, in early 2021 the price of Ethereum skyrocketed first to almost $2,000 and then to $4,000 in May 2021. 

The positive thing about that is that Ethereum was able to easily break its previous all-time high from early 2018. This was very positive to attract new investors and show that Ethereum was stronger than ever before. 

Another thing to take into consideration is that Ethereum was also able to hit new highs in November 2021. This means that the coin surpassed $4,500. Nonetheless, this was the top for Ethereum, which is now moving lower with the entire cryptocurrency market. It would be important to follow the next year and what happens with ETH 2.0 and the total supply of ETH in the cryptocurrency market. 

Despite having clear monetary policies (predictable) most virtual currencies are still having high levels of inflation. Ethereum is trying to change that and reduce its total supply of tokens in the market, which could be very positive for its price in the coming months.

Ethereum 2019 popularity vs. Ethereum 2020 popularity 

Ethereum interest from 2019 Google Trends

Looking at Google trends, we see Ethereum experienced peak interest in 2019 between May and July. There was a spike of interest between May 5 – 11, Jun 9 -15, and the most interest was registered June 30 – July 6. The interest coincides with the price peak for the year before a sharp decline of interest on July 21-27.

Ethereum Price PredictionEthereum interest by region

Since then, interest maintained an even level until Jan 26-1 Feb. it would peak between Feb 9-15 right about when we saw Ethereum record its highest price for the year.

Looking at the numbers, it’s clear there is more interest in Ethereum this year compared to last year within the same time frame.

Ethereum 2019 Price Evolution 

Ethereum price evolution 2019 coinmarketcap.com

The price of Ethereum was less volatile in 2019 compared to the previous year. It managed to remain with the $100 – $330 range throughout the year. ETH began the year at $140 before dropping to $104 on February 7, which marked the lowest mark the price hit. From there was a steady rise coupled with minimal decreases culminating to a peak of $336 on June 27. But that is as high as it got for ETH in 2019. Since then, there was a steady decline to the $200 zone where it held for a few weeks before dropping below $190 by August 15. The price would temporarily revisit the $200 territory between September 20 -September 24 before sharply dropping to the $160 zone. From there were minor increases and decreases with ETH ending the year at $132

Ethereum Price Predictions TradingView Analysis Updated May 21, 2022



ETH/USDT : Broken below the local S/R zone by Helical_Trades on TradingView.com

 

This ETH/USDT analyst shows that there are several important price levels for Ethereum between 2100 USDT and 1600 USDT. He has drawn different support and resistance lines that could help us understand what to expect from this virtual currency in the near future. 

As he explains, ETH has broken below the S/R zone. If we get the restest into the S/R zone, then, there could be a great opportunity for investors that would like to short this asset in the near future. Moreover, he has also drawn in the charts different support and resistance levels. 

The next resistance level from the current 2100 USDT zone is 2075 USDT. Now, when it comes to supporting levels, we see 1975 USDT, 1910 USDT, 1850 USDT, 1800 USDT, 1720 USDT and 1600 USDT. Understanding what could happen with Bitcoin could also help us think where Ethereum is headed. 


#ETH/USDT 4HOUR UPDATE BY CRYPTOSANDERS by CryptoSanders9563 on TradingView.com

For Ethereum, this analyst shows that the virtual currency has been in a descending wedge for almost a month. This wedge has been very useful to understand the way in which ETH moved against USDT over teh last weeks. At the moment, the expert shows that there is strong resistance close to 2,750 USDT and that this could make it difficult for ETH to break higher. 

Moreover, there is also strong support at 2,640 USDT that would help ETH stay above the current price levels. However, it would be very important for the whole market to start moving higher. This could help Ethereum break above the current falling wedge and start a new move higher. 

Ethereum’s direction will likely depend on how the market behaves in the coming months and whether there will be a new bull run helping the whole crypto market move higher.


ETHUSDT near major support breakout and dump or more range here by MMBTtrader on TradingView.com

This Ethereum analyst is also sharing valuable information about what could happen with Ethereum in the near future. As per the analyst, Ethereum is currently at a major support zone that is also related to the Fibonacci retracement level at 0.5. This support region is currently between 2,890 USDT and 2,990 USDT.

If the price is able to remain above this level, then we could see Ethereum moving toward 3,500 in the near future. This would be the first step for this digital currency to continue its move higher and target higher price levels such as 4,000 USDT. Nevertheless, it would be very important to see how Bitcoin behaves and whether there will be a strong push higher from the largest crypto in the market. Additionally, Ethereum has to also break different resistance levels, including the 3,600 USDT region.


ETH, VOLUME GROWTH=WHALES INDICATOR! by Yuriy_Bishko on TradingView.com

This analyst shows that locally, the price is now in a bearish trend. Furthermore, the support zone of 3,042 USDT and 3,185 USDT has stopped the dump. It is possible to open long positions after false breakouts and if the volume starts growing. Additionally, with the low volumes, liquidations of longs and the collection of SL by whales have not happened yet. 

This expert says that the mid-term target for the long will be an area close to 4,000 USDT and 4,150 USDT per coin. There is also a clear resistance at these levels that should be managed by investors in the future. As the expert shows in the chart, the coin could fall below 3,000 USDT for a short period of time (false breakout) and then start moving higher to reach the potential target mentioned above.


ETH need small correction but bullish 😎🍻😎🍻😎 by Th57Trader on TradingView.com

This Ethereum analyst sees Ethereum moving higher in the near future. He also shows that ETH has been in a bull trend for several days now in the 2-hour chart. This ascending trendline is working as a clear path for ETH that has been moving higher since mid-March. 

But in order for Ethereum to continue moving higher, it will have to break through different resistance levels. These resistance price regions include 3155 USDT and 3246 USDT per coin. But there are also some support levels that could help ETH continue its trend higher. These support levels include 3084 USDT, 3025 USDT and 2964 USDT per coin. Therefore, if it starts to move lower, we should pay close attention to these price levels.

It would also be very important to follow Bitcoin’s path in the next few days and how it behaves.

Expert Ethereum Price Predictions 

Coinswitch believes 2020 will be a remarkable year for Ethereum and the rest of the crypto market. The price can go as high as $1600 by the end of the year since the see dapps experiencing massive adoption within the course of the year. 

According to Trading Beasts, they expect ETH to reach $900 by the end of 2020, with an average of $650.

CoinKir, a crypto prediction site, believes Ethereum could revisit its all-time high of $1,400 by the end of 2020. Nonetheless, in 2020 it was able to be close to $450

Brian Schuster, the founder of Ark Capital LLC, is quite bullish on the price of ETH in the longterm. He sees the coin reaching as high as $100,000 in five years, given that crypto will replace gold.

TieuLong FX, a forex trader, believes that Ethereum could reach $1,365 by the end of the year.

According to PriReis, a respected analyst on the trading view, Ethereum could end the year at $320, which is quite realistic. 

Moving from a realistic to a more unrealistic prediction, we have Nigel Green, CEO of deVere Group, who believes Ethereum could end the year at $2,500. He sees the increasing use of smart contracts, increased demand for cryptocurrencies, and the decentralization of cloud computing as the chief drivers of the price.

Ethereum Frequently Asked Questions (FAQ)

Who Created Ethereum?

Vitalik Buterin created Ethereum alongside Anthony Di Iorio, Mihai Alisie, and Charles Hoskinson. Later on, Dr. Gavin Wood and Joseph Lubin were added to the team of developers.

When Was Ethereum Launched? 

The Ethereum whitepaper was released in 2013 and described a new open-source protocol meant for creating decentralized applications. In July 2014, a crowd sale was held where 60 million tokens were sold. The platform was launched a year later on July 30, 2015.

Is Ethereum Decentralized?

Ethereum is a decentralized open-source and distributed computing platform that allows for the creation of decentralized applications, also known as dapps and smart contracts.

Is Ethereum Proof of Stake? 

As of April 2020, Ethereum uses proof of work (PoW) consensus even though on Jul.30, 2020, the first phase of transitioning the network to proof of stake (PoS) will be launched.

Is Ethereum a Good Investment?

There is a reason Ethereum is the second largest currency by market capitalization. With scalability upgrades on the way and the growth of the DeFi space, we can confidently expect the price of ETH to grow in the future; thus, it would be shrewd to put your money on this project.

Will Ethereum go up? 

Yes, expect the value of ETH to go up in 2020 and the years that follow based on the many exciting developments taking place and as cryptocurrencies gain mass popularity.

Where to buy Ethereum?

There are many ways to buy Ethereum, including using a debit or credit card on crypto exchanges like Coinbase, Coinmama, Bitpanda, and CEX.io. You can also buy ETH using a bank account or transfer on Coinbase, Bitpanda, Kraken, Gemini, Bitstamp, and CEX.io. There is the option of buying Ethereum using a Bitcoin or exchanging BTC for ETH on exchanges like Binance, Changelly, and Coinbase Pro. 

There is no easy way to buy Ethereum using PayPal, but you can buy Bitcoin using PayPal on platforms like LocalBitcoins and exchange them for ETH.

Buy Ethereum on decentralized Ethereum exchanges by swapping coins and ERC20 tokens. Some of the best-decentralized ETH exchanges include ForkDelta, ERC dEX, IDEX, and RadarRelay.

However, remember before embarking on buying Ethereum, you need a good and safe place to store your coins. Therefore, it wouldn’t hurt getting your hands on a hardware wallet like Ledger Nano X, Trezor T, and Ledger Nano S.

Buy Ethereum on Binance today!

Is Ethereum Dead?

No, Ethereum is doing quite well now that ETH 2.0 is on the way. The project will only get better with time.

Is Ethereum better than bitcoin? 

This is not an easy question to answer, since both are wonderful technologies. On top of supporting transactions, Ethereum supports smart contracts and the creation of decentralized applications (dapps).

Will Ethereum fail? 

Given the amount of development and support in place, the possibility of Ethereum failing is next to zero. There is no reason why this project can’t go on for the foreseeable future.