Source : cryptodaily.io
Decentralized finance (DeFi) is still young, and the Ergo blockchain is staking its claim on the DeFi pie. Ergo has been in development since 2019, and they have enticing products, but is it enough to push the price of ERG up? Here is the Ergo price prediction for 2022 and beyond.
What is ERGO?
Ergo blockchain is a layer one protocol for powerful decentralized finance contracts. It allows for radically new decentralized finance functionality on the rock-solid foundations laid by a decade of blockchain theory and development. These solid foundations are proof of work consensus algorithms and the underlying UTXO models that enable robust scalability and security.
The Ergo decentralized financial system supports Oracles, stablecoins, NFTs, and decentralized exchanges, among many others. Ergo was built to overcome the inherent weaknesses of Ethereum smart contracts and hence revolutionize DeFi. Alex Chepurnoy launched Ergo in 2019 and has been the lead developer ever since. He is also a co-founder of smartcontracts.com, which is now called Chainlink. ErgoDEX will also allow quick cross chain liquidity swaps between Ergochain and Cardano.
Ergo has oracle pools from which the most trusted ones out of all of them get to provide data to dApps. This removes any chances of error. Ergo is currently only at a $300 million market cap. The market cap could easily be $1 billion or more, given the developments the development team is making. Ergo has a total supply of 97,739,924 tokens, and 57,365,685 of them are in circulation. The price of ERG is $1.66 as of the time of writing.
What is Ergo’s Price Prediction for 2022?
Ergo has been trending downwards since it started trading on September 11, 2021, on KuCoin. The asset has been falling in price and recently touched a low of $1.60. Ergo is also trading below the 200-day moving average and shows signs of further decline if Bitcoin decides to misbehave.
The asset has had a fateful year. On January 20, Ergo fell by -30% within three days. However, in late March, the asset’s price rose by +65% within just a matter of seven days. Unfortunately, 15 days later, these gains were quickly wiped away as the asset price fell below the 21-day moving average. Since then, the asset has been trading below the 21-day EMA.
Will ERGO’s Price Crash in 2022?
The bearish case for Ergo is quite an interesting one. The asset is currently trading at $1.66 and is in a gigantic falling wedge that spans several months. The price of the asset shows signs of moving downwards with no support zone in the near future.
The lower trendline of this falling wedge has been touched by the price twice before, at $5.16 and $2.56. If Ergo’s price falls, then the next reasonable bottom will be $0.54. Moreover, a smaller falling wedge has formed on the daily timeframe, showing Ergo could fall to $1.51 dollars before trying to break out of this falling wedge.
Will ERGO’s Price Rally in 2022?
The bullish case for Ergo is much stronger than the bearish scenario. The bears seem to have reached a breaking point, and the bulls are ready to take over. Ergo is at the bottom of the smaller falling wedge, and the asset should be prepared to retest the upper trendline of the falling wedge.
If it manages to break out of this falling wedge, it will rise to $2.87. This will signify a +50% increase in its price. Additionally, it will put Ergo above the 21-day moving average but still below the 200-day moving average. Currently, for Ergo to reach the 200-day moving average, it has to rise by +146%.
Assuming Bitcoin behaves, Ergo bulls might have a good year. If Ergo manages to break above the 200-day moving average, $5.31 is the next strong resistance. Ergo will have to overcome this resistance in order for it to soar to new highs. If the bulls are strong enough, they can conquer the $8.51 resistance and finally retest the all-time high of $19.47. After that, Ergo will be in the price discovery mode.
What Will Be The Average Price of ERGO By the End of 2022?
Ergo is a blockchain on its own. However, the price of this asset, like every other asset, is affected by Bitcoin’s erratic movements. Ergo is primed for a nice run-up if it breaks up from the falling wedge, but all this could be ruined if Bitcoin slides further down.
Hence, the falling wedge does not have any more room for Ergo price action to move in; hence, it might just break out before the end of July. This means that the average price of Ergo by the end of 2022 will be higher than $1.66. Ergo might close the year at $2.87.
ERGO Price Predictions By Other Analyst Experts
According to the charts, Ergo price shows a lucrative buy; however, financial analysts have differing opinions on it. While most of them see the price of Ergo rising, they all differ in terms of the rates at which the ERG price can rise. Here are some of the predictions from some of the top analysts on the internet.
Experts from Trading Beasts see the price of Ergo rising nicely through the remaining months of 2022 to hit a six-month high of $2.40 and a low of $1.44. Check out the rest of the month’s predictions.
- August: Minimum $1.63 – $2.40 Maximum
- September: Minimum $1.60 – $2.35 Maximum
- October: Minimum $1.56 – $2.29 Maximum
- November: Minimum $1.51 – $2.22 Maximum
- December: Minimum $1.44 – $2.12 Maximum
At DigitalCoinPrice, analysts predict that this asset will hit a price of $8.10 by the time 2030 arrives. Moreover, by the end of 2022, Ergo will be trading at an average price of $2.13. Here is what the other remaining months of 2022 hold for Ergo.
- August: Minimum $2.01 – $2.22 Maximum
- September: Minimum $1.99 – $2.38 Maximum
- October: Minimum $2.00 – $2.15 Maximum
- November: Minimum $2.06 – $2.38 Maximum
- December: Minimum $2.04 – $2.39 Maximum
Financial analysts from PricePrediction.net expect Ergo to reach an average price of $3.10 in 2022. They are way more optimistic compared to other experts looking into this asset. Here is what the second half of 2022 carries.
- August: Minimum $2.63 – $2.82 Maximum
- September: Minimum $2.71 – $2.935 Maximum
- October: Minimum $2.83 – $3.04 Maximum
- November: Minimum $2.89 – $3.19 Maximum
- December: Minimum $2.98 – $3.34 Maximum
Experts from Gov Capital also see the price of ERG going up in both the near and far future. They predict that Ergo will rise by 708% in the next year and will be trading at $13.56 by July 2023. But for the remainder of 2022, here is what they predict.
- August: Minimum $8.41 – $9.67 Maximum
- September: Minimum $5.81 – $6.68 Maximum
- October: Minimum $5.23 – $6.01 Maximum
- November: Minimum $4.62 – $5.31 Maximum
- December: Minimum $3.99 – $4.59 Maximum
ERGO Price Prediction for 2023 to 2025
The price of Ergo will reach a maximum of $5.22 in 2023 but will cool off to around $4.39. The price will then settle at $.54 by the end of the year. In 2024, Ergo will hit a high of $7.80 and a low of $6.93. The price will average out at $6.70.
In 2025, the asset will have a maximum price of $11.55 and a minimum of $9.78, with an average of $9.43.
ERGO Price Prediction for 2025 to 2030
In 2025, 1 Ergo will hit a high of $11.55. The price of the asset will cool off to $9.78 and average at $9.43. In 2026, the Ergo forecast shows that the minimum price will be $13.31 with an average of $13.80. Also, the asset will hit a high of $16.53.
In 2027, Ergo will be trading at $20.24 with a year high of $23.42 and a low of $19.69. In 2028, the price of Ergo will rise to $34.32 and then drop off to a minimum of $28.98. However, the price will stabilize at an average of $29.99.
In 2029, Ergo will have an even better year, rising to highs of $50.28 and hitting lows of $42.38. The average price for that year will be $43.58. By 2020, Ergo will be going for a cool $65.17 per coin. The highest price for that year will be $73.53, and the lowest price is $63.43.
Is Ergo Coin a Good Investment?
According to the charts, Ergo is a great investment in 2022. The price of this asset is set to increase to a high of $2.4 sometime this year. While the returns might not be that much, the asset will still give you a net positive return by the end of the year.
Will Ergo Price Increase?
The price of Ergo will rise in the coming months and years. This is driven by both industry developments and Ergo’s own blockchain developments. The fundamentals of this project are strong, and they will serve to sustain it in space for a long time to come.
What Makes Ergo Different?
Ergo has a low supply of only 97,739,924 coins, and more than 50% of it is in circulation. The Blockchain is still young, having only been launched in 2019, and the developer is a master at smart contracts. The oracle pools that Ergo has invented give stiff competition to Chainlink. In addition to this, Ergo is not on most Tier-1 exchanges and hence has the potential to go higher upon listing.
How High Can Ergo Price Go?
The price of Ergo could rise to a hit price of $80 by the time we arrive in 2030. The asset has a low supply, and the dev team is quite engaged. If Ergo blockchain can prove to be the most reliable provider of accurate data through its Oracle pools, then the sky’s the limit.