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 from 2023 all the way to 2030.
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 the 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 chance of error. The currency has a $300 million market cap. The Ergo coin 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 2023?
The Ergo price chart indicates that Ergo has been trending downwards since it started trading on September 11, 2021. The asset has been falling in price and recently touched a low of $1.24. Ergo is also trading below the 200-day moving average and shows signs of further decline if Bitcoin decides to misbehave.
Ergo Coin started the year strong, reaching an all-time high of $1.39. However, it pulled back in the second half of the month and ended the month trading around $1.13. The Erg price continued to consolidate in February, trading between $1.08 and $0.90. By the end of the first quarter, the coin’s value stood at between $1.04 and $0.91
Unfortunately, in April, these gains were quickly wiped away. The asset price fell to $0.97 and $0.86, with an average price of $0.97. Since then, the asset has improved in value, which by mid-June reflected a high of $1.32 and a low of $1.24.
Will ERGO’s Price Crash in 2023?
The bearish signal for Ergo is quite an interesting one. The asset is currently trading at $1.24 and is expected to have a gigantic fluctuation that spans several months. The asset’s price shows signs of an immediate downward spike, but with some support zone in the near future.
The lower trendline of this falling wedge has been touched by the price before. If Ergo’s price falls, then the next reasonable bottom will be $0.92. Moreover, a smaller falling wedge has formed on the daily timeframe, showing Ergo could fall to $1.12 before trying to break out of this falling wedge.
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Will ERGO’s Price Rally in 2023?
The bullish signal 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 $2.90. 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. For the Ergo token to reach the 200-day moving average, it has to rise by +100%.
Assuming Bitcoin behaves, the 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 Coin will have to overcome this resistance in order to soar to new heights. If the bullish trend is strong enough, it can conquer the $8.51 resistance and finally retest the all-time high of $19.47. After that, Ergo will be in price discovery mode.
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What Will Be The Average Price of ERGO By the End of 2023?
Ergo is a blockchain on its own. However, the future price of this asset, like other cryptocurrencies, 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 2023 will be higher than $1.66. Ergo might close the year at $2.90.
ERGO Price Predictions By Other Analyst Experts
According to the charts, Ergo’s price shows a lucrative buy; however, financial analysts have differing opinions on it. While most of them indicate the price of ERG will rise, they all differ in terms of the rates at which the price of ERG 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 2023 to hit a six-month high of $3.75 and a low of $3.15. Check out the rest of the month’s predictions.
- July: $2.00 – $2.35
- August: $2.20 – $2.60
- September: $2.40 – $2.85
- October: $2.65 – $3.15
- November: $2.90 – $3.45
- December: $3.15 – $3.75
At DigitalCoinPrice, analysts predict that this asset will hit a price of $8.10 by the time 2030 arrives. Moreover, by the end of 2023, the Ergo coin price prediction indicates the token will be trading at an average price of $2.88. Here is what the remaining months of 2023 hold for Ergo.
- July: $1.72 – $2.08
- August: $1.84 – $2.24
- September: $1.97 – $2.42
- October: $2.11 – $2.61
- November: $2.26 – $2.82
- December: $2.42 – $3.04
Financial analysts from PricePrediction.net expect Ergo to reach an average price of $2.22 in 2023. Here is what the second half of 2024 carries.
- July: $0.82 – $1.33
- August: $0.93 – $1.68
- September: $1.05 – $1.65
- October: $1.18 – $1.83
- November: $1.32– $2.02
- December: $1.47 – $2.22
Experts from Gov Capital also see the price of ERG going up in both the near and far future. They predict that Ergo will trade at $1.95 by December 2023. But for the remainder of 2023, here is what they predict.
- July: $0.75 – $1.20
- August: $0.85 – $1.35
- September: $0.95 – $1.50
- October: $1.05 – $1.65
- November: $1.15 – $1.80
- December: $1.25 – $1.95
Ergo Technical Indicator Analysis
ERG/USDT 4-hour Chart Analysis
According to the 4-hour chart above, the ERG price is in recovery mode, with bulls pushing the price higher from the major support level of $1.17. At the time of writing, the price is trading above the 50 4-hour moving average, indicating that the buyers are in control. However, the price might face a critical resistance level of $1.35.
Furthermore, the 200-moving average also acts as resistance. Should the price break above the 200 moving average, the bullish surge will be inevitable, with the price reaching $2.58 in Q3 of 2023.
Meanwhile, the relative strength index is trading neutral above the 50-level mark at 61, indicating that the ERG price is surging swiftly.
ERG/USDT Daily Chart Analysis
The ERG price on the daily chart is also bullish, as indicated by the rising green candle. However, the price still trades below the 50-day and 200-day moving averages.
The price should continue toward the critical resistance level at $1.58, where the 200-day EMA is also a resistance. The price is expected to retrace briefly before picking up on the second leg toward the resistance at $1.78.
A further surge is also expected toward the major resistance level of $2.35, which should be reached by Q2 of 2023.
Additionally, The Relative Strength Index (RSI), used to determine whether a cryptocurrency is oversold (below 30) or overbought (above 70), indicates a neutral position for the ERG market with an RSI value of 41.07.
Based on the analysis above, we can forecast the price of Ergo to reach $5.56 by the end of Q4 of 2023.
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ERGO Price Prediction 2024
In 2024, Ergo will hit a high of $7.80 and a low of $6.93. The price will average out at $6.70.
ERGO Price Prediction 2025
In 2025, the asset will have a maximum price of $11.55 and a minimum of $9.78, with an average of $9.43. In 2025, 1 Ergo will hit a high of $11.55. The price of the asset will cool off to $9.78 and average $9.43.
ERGO Price Prediction 2026
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.
ERGO Price Prediction 2027
In 2027, Ergo will be trading at $20.24, with a year high of $23.42 and a low of $19.69.
ERGO Price Prediction 2028
In 2028, the Ergo coin price will rise to $34.32 and then drop to a minimum of $28.98. However, the price will stabilize at an average of $29.99.
ERGO Price Prediction 2029
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.
ERGO Price Prediction 2030
Our Ergo coin price prediction for 2030 indicates the token’s value will hit $65.17 per coin. The highest price for that year will be $73.53, and the lowest price is $63.43.
How to Buy Ergo Crypto
There are several platforms where you can buy Ergo. These include crypto exchanges like KuCoin, Gate.io, and Binance. We will use Binance for this article because it is the most popular crypto exchange globally. Here’s a three-step process on how to buy Ergo crypto from Binance.
Step 1: Create a Binance account
Creating a Binance account is easy. Use this article to help you figure out how to set up your Binance account.
Step 2: Complete Binance Verification
Binance is a highly secure platform. As such, its users must complete a Know Your Customer(KYC) Binance verification process before transacting on the site.
Step 3: Buy Crypto
Binance enables users to buy crypto with fiat. This simplifies the purchase process. Below is a detailed explanation of how to buy crypto from Binance.
- Log in to your Binance account and select the Buy Crypto option on the navigation bar.
- Select the Credit/Debit Card option.
- Select the fiat currency you want to use, choose the crypto you want to buy, and then click Continue.
- If it’s your first time buying from Binance using a debit or credit card, you need to add a card. So, click on the add card button.
- Enter the card details, verify them, then click Next and your card should appear on the screen.
- Confirm the transaction details, then click Continue to complete the process.
- If the transaction process is complete, you will see the funds in you …
Is Ergo Coin a Good Investment?
According to the charts, Ergo is a great investment in 2023. 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 great, 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 in the long term.
What Makes Ergo Different?
Ergo has a low supply of only 97,739,924 coins, and more than 50% of them are 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?
Is Ergo a good investment? The price of Ergo could rise to a peak of $80 by the time we get to 2030. The asset has a low supply, and the dev team is quite engaged. If Ergo could prove to be the most reliable provider of accurate data through its Oracle pools, then the sky’s the limit.
What is Ergo Price today?
At the time of writing, Ergo’s price stood at $1.20. According to CoinGecko, this is a 1.6% price improvement in the past 24 hours.
Will Ergo reach $100?
It is not guaranteed that Ergo will hit a $100 valuation. However, by 2030, our price prediction estimates that the coin will have a minimum value of $63.43 or a maximum value of $73.53.
How much will Ergo Coin be in 2025?
In 2025, 1 Ergo will be worth $11.55. The asset’s future price could hit a minimum of $9.78 and an average of $9.43.
What is Ergo Coin used for?
Ergo (ERG) is a cryptocurrency that operates on the Ergo platform. It is the native token that supports Ergo Blockchain’s advanced features, which include an advanced scripting language, enhanced privacy, and powerful smart contract functionality.
What is the max supply of Ergo Coin?
The maximum supply of Ergo (ERG) is 97,740,424 coins. Ergo was designed with a capped supply to ensure scarcity and maintain its long-term value proposition.