Ethereum (ETH), the second-largest crypto in the world, finally managed to surge past $3000 this week in a two-week rally. ETH bulls have managed to keep the price there. Also, we are seeing whale accumulation in Ethereum increase. Here are some notable details:
Increased whale demand could trigger a decisive 2022 rally
Some analysts believe that the coin could hit $6100 by year-end.
Ethereum could also generate nearly $12 billion in fees this year.
Data Source: Tradingview
Ethereum (ETH) – Where does the price go next?
This is the sixth day in a row we have seen Ethereum surge. The coin in fact briefly rose past monthly highs of $3200 before finally retreating slightly. The short-term outlook is very bullish. In fact, analysts are watching to see how ETH holds up in the coming days.
If indeed, it’s able to surge past the 200-day EMA of $3144, then we could see enough bullish momentum that takes the coin well above $4000. This will represent nearly 55% in gains from this year’s lowest price of around $2159.
As for the long-term outlook, ETH could possibly hit $ 6100 this year. This is actually a very modest and conservative estimate. Some experts in fact think that with improved sentiment, we could get to $10,000. But there are still some potentially risky factors, including the runaway inflation in the US.
Is Ethereum (ETH) the best crypto this year?
Well, if you are looking for steady growth in capital, then Ethereum (ETH) is a fairly decent option to buy. The coin will not deliver 100x growth of course. But it has the potential of offering between 20% and 30% in 2022.
For any investor looking for a safer bet when it comes to crypto, you won’t find a better alternative than Ethereum. Besides, the coin has also attracted a lot of institutional money.