Ethereum HODLers Can Reap Huge Gains in 2022, Top Reasons Why ETH Price Will Hit $10k This Year

The post Ethereum HODLers Can Reap Huge Gains in 2022, Top Reasons Why ETH Price Will Hit $10k This Year appeared first on Coinpedia — Fintech & Cryptocurreny News Media| Crypto Guide

After three consecutive days of losses earlier in the week, the general cryptocurrency markets stabilised at the conclusion of the week, with Ethereum (ETH) holding firm above $3,000.

Despite a rise in buying interest around the $3,200 level, which unfolded slightly above the psychological support zone of $3,000, ETH is witnessing persisting negative threats.

ETH Price Action

According to IntoTheBlock’s analytics, Ether’s net issuance is falling. Since reaching a high of 3.48 percent on March 12, the seven-day average net issuance has been about 2.21 percent, according to the data provided.

According to the on-chain analytics firm, ETH hasn’t had a negative net issuance day since Jan. 10, although it touched a two-month low of 0.87 percent on March 5.

The key resistance levels ahead are $3,700, $3,500, and $3,285. The key support levels ahead are $3,200, $3,000, and $2,800.

Investor lists reasons why ETH will hit $10,000

#ethereum 2.0 is coming, and yes, it will be the catalyst to send ETH to 10K, sorry haters, but it is happening!

— Lark Davis (@TheCryptoLark) April 9, 2022

Earlier this week, Mark Cuban, the owner of the Dallas Mavericks, had a similar sentiment; however, unlike Davis, the billionaire claimed he was “extremely positive” on Ethereum following the execution of the “Merge” — another name for Ethereum 2.0.

Even though it has not been verified, the upgrade is expected this summer. It will ensure that the Ethereum chain switches from Proof-of-Work to Proof-of-Stake consensus system, making it more environmentally friendly than Bitcoin and other PoW coins.

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