Just like Bitcoin, Ethereum has suffered heavy losses in recent months. However, in the last few days, the price has somewhat recovered. Can Ethereum price reach higher valuations again and will we even see a $10,000 in the few upcoming months? Let’s talk about 3 reasons that might confirm the Ethereum price up towards 10K.
1. Is the World Calming Down?
The world has been in crisis mode for a long time in recent months. The pandemic flared up again this winter and a new variant was discovered. Then came the crisis in Ukraine and the war. The times when the crypto market was crisis-proof and even benefited from it are over. Cryptocurrencies and even Ethereum prices are increasingly following tech stocks.
If the crises calm down in the next few months, the crypto market could recover and reach new heights. The Ethereum price should be one of the fastest-growing prices since the adaptation of the blockchain has increased significantly in recent months despite price losses.
2. Ethereum Price is showing Bullish Signs
The Ethereum price has shown an interesting pattern in the last few weeks, which could indicate that a strong bull market is imminent in the medium term. A triangle formation appears to be forming with one angle pointing up. Such a formation suggests a coming bull run.
The breakout to the upside could be as large as the maximum distance between the two trend lines. We can measure from the breakout point. The Ethereum price could soon break out to over $10,000.
3. Blockchain Adoption to help Ethereum Price up
2021 had 3 big hype topics: DeFi, NFTs, and the Metaverse. We are still in the early stages of these issues. The big mainstream adoption of blockchain was yet to come. This could be the case as early as the next few months. NFTs are also becoming more well-known in the mainstream and prices are constantly increasing.
At the same time, decentralized financial products seem to be growing massively on a global scale, especially in developing countries. The metaverse experienced its first hype in autumn 2021. Now it could really expand in 2022. These developments are still being overshadowed by the current crises, but could soon receive more attention again.
As the most popular smart contract platform, Ethereum is at the forefront of DeFi and NFTs in particular. The Ethereum price should grow in the next few months and could attack $10,000.