This is Why Ethereum Price Could Easily Be Over $2,000 Before Year End 2022
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Ethereum (ETH) is in the first stages of its post-merge transition, renewing hope that ETH could end the year with a significant price surge. While the market is unpredictable, ETH could be put in a position for a significant jump to end the year.
Currently, ETH is priced at $1,395.a 7.3% increase in 24 hours and 2.5% in the past week. The asset is trading in line with the broader market, which has experienced an uptrend of 5.7% in the past 24 hours.
However, on the technical front, ETH continues to trail all of its moving average (MA) indicators, except the 10-day MA of $1,337. The asset’s moving average convergence divergence (MACD) is also negative at the moment, giving off a sell signal. However, with a relative strength index (RSI) of 44.78, ETH remains highly underbought and prime for long-term investment.
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One of the biggest catalysts for any asset’s surge is capital inflows. This is especially true for large-cap coins, which require an increase in investor demand for their prices to rise.
Institutions appear to be more comfortable ploughing capital into crypto once more since many analysts believe that the market has reached a bottom. A recent report from CoinShares indicates that inflows into Ethereum-based investment funds have increased by $7 million in the week following the Merge.
The influx of institutional money into Ethereum-based funds coincides with a growth in capital inflows for Bitcoin too. And with asset prices on the rise now, investors could have additional incentives to invest in cryptocurrency.
As expected, another major driver for
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