After several months in a bear market, investors are searching for information that would let them understand what could happen not only with Energy Web Token (EWT) but also with other digital currencies.
As Bitcoin continues to move lower, analysts believe that the market trend could change as soon as the FED changes its narrative and starts lowering interest rates once again. This could have a large impact not only on Bitcoin (BTC) but also on Energy Web Token as well as other altcoins.
Energy Web Token (EWT) has been growing as a project that has the mission to accelerate the decarbonization of the global economy. To do so, they are building operating systems for energy grids, to make it simple, secure and efficient for those investors in green energy to support the grid.
There are six main pillars on which Energy Web Token (EWB) is now focusing. These pillars include Energy, Digitalization, Decarbonization, Users, Assets and Decentralization. These aspects are all interconnected and support the transition towards a new decarbonized world.
At the moment, Energy Web Token has been working on 50 different projects located all over the world with a focus on 25 countries. They have also established more than 100 partners that continue to expand on a regular basis.
Thanks to this expansion, we see that there is a clear impact on price. After being released in the middle of the COVID-19 pandemic, it reached an all-time high before the bull market in cryptocurrencies started. Indeed, it hit a price per coin of $13 in mid-2020.
But that was not all, in 2021, the market turned bullish and EWT followed the trend surpassing $20 per coin in April. This was EWT’s all-time high. After hitting an ATH, the coin was traded sideways until today, where it is being affected by the most recent sell-off in the crypto space.
Another thing that is worth considering is related to the fact that Energy Web is working with different companies to enhance grid flexibility and reliability. One of the latest updates is related to Electraflex, a project with Electra Caldense. The goal is to power generation with energy consumption using distributed energy resources.
As they explain, this project has been possible thanks to close collaboration with Bamboo Energy, Vega Chargers, Top Cable, CAESA and many other companies and organizations.
These types of projects are the ones that are currently helping the company become more valuable and that could help EWT expand in the future and possibly reach new all-time highs if the market allows for it.
Let’s see what analysts are saying on TradingView and where they see this virtual currency in the coming years. This would help us understand if the fundamentals behind the expansion of this project are aligned with the technical aspects of EWT price.
- Mister_Underscore does not seem quite bullish about the future of this virtual currency. He shows how the market has been reacting to recent announcements. Every time a new announcement was made, the market sold the news
Additionally, there is a clear resistance level that ranges between $12.68 and $15.40 which has made it difficult for EWT to continue moving higher. Nevertheless, he shows that in the long term, the coin could definitely move above $100.
2. This cryptocurrency analyst has made a long-term analysis of this virtual currency and points to the possibility for this digital currency to hit $50 in the future. Despite the fact that there has been a recent sell-off, the target before this recent market downturn was to get closer to $50 as possible.
3. This crypto and EWT trading expert saw that there was an opportunity to long EWT and wait for a retracement to point C (shown in the chart). And this is what happened. The coin moved below the support level of $4 and it is now being traded at the predicted C point ($2.62).
4. Livecharting considered that EWT could be traded inside a channel that ranged between $4.30 and $6. This is what happened for most of 2022. However, with the market tanking in early May, EWT moved lower but the channel was respected very well by this virtual currency while the market traded sideways for some time.
5. This analyst followed the Sniper Strategy which claims to work on most charts. He shows that there were strong support and resistance levels at which we should aim to enter and exit. These support levels included $9.24, $7.91, $6.43, $5.88, $5.14 and $4.05. The take profit levels shared by this analyst were $11.30, $12.63, $14.11 and $14.69.
Like many other blockchain projects, EWT is the token behind Energy Web. Thanks to it, all its operations are powered and incentivize the community to keep pushing for the adoption of new and reliable energy sources.
The goal of the EWT is to promote and support the development of Energy Web projects in conjunction with other participants and partners. Another thing that is worth pointing out is that, compared to other projects, Energy Web Chain is a non-profit. That means that there are no interested parties in making this token pump just for the sake of obtaining gains.
In the next few years, we could see the integration of the EWT token into different new systems, projects and solutions. The goal would be to benefit different actors that participate in the Energy Web ecosystem. The larger the community working on top of this project, the higher the price of this token and its use cases.
We have seen how some of TradingView’s analysts saw this project moving higher in the future. But which is a realistic price prediction for EWT in 2022? We need to internalize that we are in a bear market. That means that it might be more difficult for this project to continue moving higher, at least this year or until the bear market lasts.
Instead, if the cryptocurrency market starts a new bull run, we could see EWT targeting its previous all-time high. This would be the most logical thing for a digital asset that was released to the market in 2020 and that has been relatively stable for several years. After reaching its all-time high, we could then start talking about possible EWT price predictions.
This could be a long-term goal for Energy Web Token. The goal would be to first retest its all-time high and, from that point, start moving higher once again. Of course, the trend towards $100 will not be straight and easy to achieve. There might be many bumps in the middle making it quite difficult for EWT to get closer to $100.
The first thing that we need to see is the end of the current bear market. If that happens, we can then start talking about EWT getting closer to $100.
Based on the estimations, here are the following price predictions for EWT.
EWT price prediction for 2022: $0.50 – $8
EWT price prediction for 2023: $0.50 – $20
EWT price prediction for 2024: $2.5 – $50
EWT price prediction for 2025: $5 – $100+
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