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Ethereum Price Prediction – Should You Buy now Before Visa Integrates ETH Payments?

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author imageArslan Butt Last updated:

Ethereum price prediction is stable, as the cryptocurrency trades sideways in a narrow range of $1,150 to $1,225. The ETH/USD pair opened the day on December 22 at $1,213.37, reaching a high of $1,220.86 and a low value of $1,210.00. ETH/USD is currently trading at $1,218.01, up 0.17% in 24 hours. Furthermore, the price has dropped by more than 6% in a week.

VISA Details Concept: Automatic ETH Payments

On December 19, the financial services company Visa announced a proposal that would allow ETH cryptocurrency holders to set up automated payments directly from their self-custodial wallets, bypassing banks and other centralized organizations.

Catherine Gu, VISA’s head of CBDC and protocols, claims that the company has been “closely watching the evolution of the crypto ecosystem” and exploring Web3 infrastructure. Gu and a team of researchers published a technical paper describing how the Ethereum developer proposal for “account abstraction” would enable automated payments on the blockchain.

The ETH account abstractions intend to allow a contract to act as the primary account for transaction execution and fee payment. It is still only a concept, with no confirmation on whether such a technology is being developed or will be made available to the public.

However, if such a technology were to be released, it would almost certainly create market ripples and increase demand for ETH. It is because making cryptocurrencies accessible is the key to their mainstream acceptance.

The auto-payment function would allow ETH holders to set up automatic payments without involving a bank. As a result, this new technology is advantageous, particularly for ETH/USD.

Paxful Delists Ethereum to Maintain “Integrity”

Ray Youssef, the founder, and CEO of peer-to-peer cryptocurrency exchange Paxful, announced on December 21 that Ethereum would be removed from the platform soon. The CEO claims that the second-largest cryptocurrency is working against his firm goal of ending “economic apartheid” for all people.

According to Youssef’s tweet, ETH trading on Paxful will cease on December 22, 2022. Youssef stated that it would give people time to finish their trades and resolve any disagreements. The data is based on a screenshot of a newsletter sent to Paxful members.

Furthermore, the CEO claims that Ethereum is undermining this goal by reducing Bitcoin’s momentum. As a result, reinstalling the monetary system against which Bitcoin is fighting. In response to a tweet by software engineer Jeremy Garcia on December 12, the Paxful CEO first announced plans to remove ETH.

Jeremy referred to Ethereum as a “project destined to fail” due to poor design and “a foundation of sand” as opposed to Bitcoin’s “foundation of granite.”

Multi-Chain Wallet from Cogni Integrates Web3 into Web2 Offerings

Cogni, a US neobank, launched the Multi-Chain Wallet, an integrated, noncustodial wallet, on December 21. It is the first of its kind to integrate Web3 capabilities into traditional Web2 banking. By combining Web3 accessibility with security, users of this integrated, noncustodial wallet are guaranteed to have complete control over their private keys. The wallet, according to the statement, supports non-fungible tokens (NFTs) on all recognized blockchains, including Binance, Bitcoin, Ethereum, Litecoin, Solana, and others.

Users will be able to send, receive, and store cryptocurrencies and NFTs to easily accessible wallet addresses thanks to the Unstoppable Domains integration. In contrast to other crypto exchanges, Cogni users retain sole ownership of the private keys that manage their digital assets. Because the Cogni noncustodial wallet now supports ETH, the currency’s demand and the price of ETH/USD will rise.

Ethereum Price Prediction – Daily Technical Levels

Support Resistance
1206.70 1219.87
1199.49 1225.83
1193.53 1233.04

Pivot Point: 1212.66

Ethereum Price Prediction

On the 4-hour chart, Ethereum has been struggling below $1,220, and the closing doji and bearish engulfing candle imply a likely bearish reversal. Short-term supports for Ethereum are between $1,180 and $1,150. If the $1,150 support level is breached, the bearish trend might extend all the way to $1,110.

ETH

Ethereum Price Chart – Source: Tradingview

If the price of gold rises above $1,220, the bullish trend could continue until the price of silver rises above $1,180.

Today’s Alternative Cryptocurrencies to Buy

If you are investing in Ethereum during the current uptrend, you should consider diversifying your portfolio with some of the best crypto presales that are currently taking place. FightOut, Dash 2 Trade, and C+Charge are the best presale tokens to buy right now.

FightOut

FightOut is a pay-to-play platform that aims to bring the fitness journey to Web3. The platform intends to make it easier for people to pursue their health and fitness goals by eliminating the need for expensive non-fungible tokens. The FightOut presale has just begun, and early birds will receive a 50% bonus. The bonus will be terminated once $5 million has been raised. The presale for Dash 2 Trade has already raised more than $2.8 million.

Dash 2 Trade

Dash 2 Trade is a crypto signals platform that aims to keep cryptocurrency investors informed and ahead of the market. The Dash 2 Trade intelligence platform will provide cryptocurrency investors with strategy-building and social trading tools, increasing their chances of profit.

The Dash 2 Trade presale is nearing its conclusion, with only 17 days remaining. The presale has already raised more than $10.4 million, with 78% of the tokens sold out.

C+Charge

Another popular presale going on today is for C+Charge. C+Charge is a peer-to-peer payment network that provides access to the carbon credits market to EV drivers. The goal of this project is to democratize the carbon credit market and revolutionize EV charging. Each CCHG token is currently worth $0.013, with the price gradually increasing over the four presale stages. During the presale, 40% of the total CCHG supply will be available for purchase.

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  This article was written for Business 2 Community by Arslan Butt.
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Author: Arslan Butt

Arslan is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. Arslan holds an MBA in Finance, and an MPhil in Behavioral Finance.
Arslan brings a broad range of skills to help beginners evaluate financial data and investment trends, carry out technical analysis, fundamental analysis, and…

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