Ergo, ERG is capable of reaching $2.39 in 2024
Monitoring the value of Ergo under a personally bearish scenario gives an ERG estimate of $1.29 in 2024.
The previous all-time high for Ergo was reached on September 3, 2021, when the value of ERG was $18.72.
Last week during this period the value of Ergo was $1.71. Because of the past week, it has changed by -4,75 % and nowadays the period is $1,61. In fact, because of the past 24 minutes, ERG fell in price by 1.40%.
There are minor bullish sentiments in the cryptocurrency trade. But the long-term sentiment remains bullish, and ERG is capable of reaching a valuation of $2.79 in 2025.
At the time of composing this post, Ergo’s unified circulating prescription has accumulated $72,565,260, and ERG’s bazaar capital transformation remains at a degree of $114,452,182.
Ergo Price Prediction
The presence of Ergo existed in colorful incidents in 2021 once. To simplify the final ERG price observation, we categorized it into short-term Ergo price observation and long-term Ergo price observation.
At the time of writing this post, the size of ERG trades was 588,040. Ergo increased in value by 2.93% over the past 30 days.
In line with our short-term view, the Ergo price observation in the 2024 moon shows an unspecific ERG price of 1.76, and the maximum allowable price in the 2024 moon will be $1.88.
Further, consistent with our long-term view, the Ergo price observation in Hayward 2024 shows an unspecified ERG price of 1.85, and the highest tolerable price in Hayward 2024 is $1.98.
How to read and predict Ergo price movements?
Ergo traders use a variety of devices to try to establish the direction in which the ERG exchange may be moving.
These devices can be relatively divided into pointers and graphical modifications.
When trying to predict the value of Ergo, traders also try to establish significant degrees of help and opposition, which have all the chances to realize if the falling direction can slow down, and increase – to stop.
Ergo value modeling pointers
The sliding normal is the only one of the most common Ergo value modeling devices.
Just as necessary from the name, the moving average assumes an average closing value for ERG due to a selected short-term interval, which is divided into a series of stages of equal length.
For example, a 12-day ordinary moving mediocre with the purpose of ERG assumes the necessary sum of the closing value of ERG because of the past 12 days, which is further divided into 12.
In addition to a typical moving average (SMA), traders also use another type of moving average called an exponential moving average (EMA). The EMA gives more weight to the newest rates and for this reason, is more likely to respond to past price changes.
The 50-day, 100-day, and 200-day EMAs are considered one of the more commonly used indicators in cryptocurrency trading to establish significant degrees of resistance and assistance.
In case the ERG value rises above each of these mediocre ones, this is usually considered a bullish symbol for Ergo. Conversely, a decline beyond the significant moving typical is usually considered an indicator of ERG trading helplessness.
Traders additionally prefer to utilize RSI and Fibonacci retracement indicators to try and establish a prospective ERG value direction.
Equally, how to read Ergo charts and predict value movement?
Most traders use candlestick charts because they provide more data than the usual straight-line chart.
Traders can watch candlesticks that show the Ergo pricing process together with varying levels of detail – for example, you can choose a 5-minute candlestick chart for very short-term price action or a weekly candlestick chart to establish long-term directional patterns.
The 1-hour, 4-hour, and 1-day candlestick charts are among the most common.
Let’s look at the 1-hour candlestick chart as an example of this, as this type of price chart provides us with data on opening and closing values. The plan is divided into “candles”, which provide us with data on Ergo’s price action in 1-hour segments.
Each candle shows the opening value, the closing value, and also the highest and lowest values that Ergo reached in 1 hour.
In addition, it is important to focus on the tone of the candle – a greenish candle indicates that the closing value was higher than the opening value, while a scarlet candle indicates the opposite.
In certain charts to indicate this most instead of colors used hollow and filled candle bodies.
What has a major influence on the value of Ergo?
As with any other asset, the value of Ergo is driven by demand and demand.
These dynamics can be influenced by such fundamental actions as reduced source fees, Winchester forks, or the latest protocol updates.
Settlement, approval by firms and governments, hacking of cryptocurrency exchanges, and other actions in the present society also have a chance to influence the value of ERG.
The bazaar transformation into Ergo capital can change significantly in a short period.
Trying to make monitoring according to Ergo, almost all traders tend to observe because of the vigor of “whales” of ERG, in this case, there are institutions and physiological persons, that control large sizes of ERG.
Since the Ergo exchange is relatively minimal in comparison to classical bazaars, the “whales” have a chance to have a huge impact on the movement of the value of Ergo.
What is the Ergo price forecast for today?
Based on our forecast chart, the price of Ergo will increase by 0.00% to reach $1.565108 by January 9, 2024.
What is the Ergo price forecast for tomorrow?
The price of Ergo is forecast to increase by 0.00% to reach $ 1.565108 tomorrow.
What is the Ergo price forecast for this week?
According to our Ergo price forecast, ERG will trade in the price range of $ 1.565108 and $ 1.439065 this week. Ergo will decline by -8.05% to reach $ 1.439065 by January 15, 2024, if it reaches the higher target.
What is the Ergo price forecast for next week?
The Ergo price forecast for next week is between $ 1.439065 on the low end and $ 1.580617 on the high end. Based on our ERG price forecast chart, the price of Ergo will increase by 9.84% to reach $ 1.580617 by January 22, 2024, if it reaches the upper price target.
What is the Ergo price forecast for 2024?
Ergo is projected to trade in a range of $ 1.427008 to $ 4.91. If it reaches the upper price target, ERG could rise by 207.15% to reach $ 4.91.
What is the current mood of Ergo?
According to our technical analysis, Ergo’s current sentiment is neutral.
What is the Ergo Fear & Greed Index and what does it indicate?
The Ergo Fear & Greed Index is currently at 71, which means that investor sentiment is in the so-called green zone.
The Fear & Greed Index combines several market and investment metrics, including 30- and 90-day volatility, trading volume, social media activity, and Google Trends data.
The Fear & Greed Index can be a useful gauge of Ergo investor sentiment and is based primarily on market data related to bitcoin.
In general, the Fear & Greed Index reflects current market sentiment as follows: 0-24 is extreme fear, 25-49 is fear, 50 is neutral, 51-75 is greed, and 76-100 is extreme greed.
Some traders interpret the prevalence of negative sentiment as a good buying opportunity, while the prevalence of positive sentiment may be a good selling opportunity.
Is it profitable to invest in Ergo?
Ergo has had 13/30 (43%) green days in the last 30 days. According to our historical data, it is currently profitable to invest in Ergo.
Over the past 1 year, Ergo’s price has risen 31.95% and the coin’s 3-year performance is 203.97%.
Is Ergo a good buy in 2024?
Based on a variety of technical quantitative indicators, the current outlook for Ergo in 2024 is neutral. This could indicate that Ergo is a good buy in 2024.
However, it is important to consider both technical (price history) and fundamental factors (chain activity and development) before deciding to buy Ergo.
What will Ergo’s price be next week?
According to our forecast, next week’s Ergo price will decline by -7.25% to reach $ 1.451641 by January 13, 2024.
What will the Ergo price be next month?
According to our forecast, the Ergo price will increase by 9.72% over the next month to reach $ 1.717169 by February 7, 2024.
What is Ergo’s 50-day SMA and what does it indicate?
Ergo’s 50-day SMA (simple moving average) is currently $ 1.474972. The 50-day SMA indicates the average price of Ergo over 50 days.
The 50-day SMA is typically used to determine the price trend of an asset over an intermediate period.
A rising 50-day SMA indicates a positive ERG price trend over the intermediate term, while a falling SMA indicates the opposite.
The 50-day SMA is calculated by adding Bitcoin’s closing prices over the last 50 days and dividing the resulting value by 50.
What is the 200-day Ergo SMA and what does it indicate?
Ergo’s 200-day SMA is currently $ 1.207622. The 200-day SMA is a popular indicator that is used to determine the long-term price trend of an asset.
A rising 200-day SMA Ergo indicates a positive long-term trend. Meanwhile, a falling 200-day SMA shows that the ERG is trending downward in the long term.
Many cryptocurrency traders pay close attention to the markets when the current Ergo price crosses an important moving average such as the 200-day SMA.
The 200-day SMA is calculated by taking Ergo’s closing prices over the past 200 days, adding them together, and dividing the resulting sum by 200.
What is Ergo’s 14-day RSI and what does it indicate?
Ergo’s 14-day RSI is at 47.82, indicating that ERG is currently in neutral.
RSI (Relative Strength Index) is a very popular technical indicator used to analyze the prices of various assets, including Ergo.
RSI is most often used in a 14-day time frame. RSI is used to determine momentum in the market.
RSI indicator readings range from 0 to 100, with 30 and 70 being important levels.
An RSI reading below 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued.
Will Ergo go up again?
Based on our algorithmic Ergo price forecast, the price of ERG is expected to decline by 9.72% over the next month to reach $ 1.717169 on February 7, 2024.
In addition, the Ergo price is projected to increase by 63.07% over the next six months to reach $ 2.55 on July 6, 2024.
Finally, the price of Ergo is expected to be $2.99 on January 7, 2025, after a 91.13% decline in value in one year.