Ethereum prices have been fluctuating since the beginning of 2022, reaching a high of $3,800 in January. As of the time of writing, prices were hovering around $2,700. However, by the end of February, prices were stuck below $3,000. A lot of this has been caused by the Russia-Ukraine war. While cryptocurrencies in general suffered during this conflict, prices did recover a bit after the fighting ended. However, the recent executive order from the U.S. President Donald Trump has also had an impact on the price of ETH. The executive order increased prices temporarily, but ETH has fallen back below its previous high. Furthermore, market sentiment remains bearish.
Ethereum is still a highly volatile currency, but its potential is becoming evident with each passing day. While some believe the price is overvalued, others believe that the price of ETH will continue to rise. This is one of the reasons why ETH is gaining a lot of attention as a currency alternative.
Despite the ongoing volatility in the cryptocurrency market, analysts have forecast that Ethereum prices could reach record levels in 2022. The cryptocurrency market is currently in a range-bound market structure, but in recent months, the fear and greed index has registered a high level of fear. This could signal the beginning of a new DCA campaign for Ether. To analyze the Ethereum market and its price predictions, we analyzed market fundamentals, drivers, and chart patterns.