Phala Network (PHA) Price Prediction: Will PHA Price HIt $1.5 in 2022?

• Phala Network (PHA) price prediction ranges from $0.0704 to $0.6577.
• Analysis suggests that the PHA price might reach above $1.5 soon.
• The PHA bearish market price prediction for 2022 is $0.0704.

Apart from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and gain experience with new cryptocurrencies. Phala Network (PHA) is one of them.

The Phala Network is a decentralized cloud computing protocol that aspires to compete with existing cloud computing providers like Amazon AWS and Google Cloud. Phala is being developed as a Polkadot parachain, or a specialized blockchain that feeds into the main Polkadot network, known as the Relay Chain.

If you are interested in the future of PHA and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030 – keep reading!

What is Phala Network (PHA)?

Phala Network is a cloud computing service that secures the privacy of managed programs while providing computational power equivalent to other cloud services. Developers can implement confidential smart contracts inside the TEE Enclaves in the CPU using the TEE-Blockchain Hybrid Architecture. Phala is also based on Substrate and will operate as a parachain of the Polkadot ecosystem.

The native utility token PHA can be used with the following TCRs: PHA tokens can be used to buy trusted computing resources (such as computing power, on-chain computing and storage resources, and off-chain storage) on the network and in the data exchanges.

A data exchange fee is charged by Phala, which offers a contract-based data exchange infrastructure for the use of standardized data collecting, analysis, and trade protocols. As a result of Phala’s protocol, a reliable and private marketplace for exchanging goods and services can be created.

For security concerns, gatekeepers must stake a certain amount of PHA tokens. But in order to participate in community governance, stakeholders must own a minimum number of PHA tokens before joining the Phala DAO.

In order to perform large-scale cloud computing without compromising data privacy, Phala Network provides a trustless computing platform. Phala Network’s distributed computing cloud is both flexible and secure because it is based on the TEE-based privacy technology found in current CPUs. Phala guarantees to process power scalability by decoupling the computation’s consensus mechanism. Everything put together like this makes it possible to have a trustless cloud computing system that is robust, safe, and scalable.

Web3 Analytics is one of the on-chain services currently being built on the Phala Network. This service is unique in that it offers an alternative to Google Analytics that naturally respects individual confidentiality by utilizing high-performance smart contracts from Phala to conduct highly concurrent mass data analytics in private.

Phala, as a Polkadot cross-chain ecosystem member parachain, will be able to provide computing power to other blockchain applications while protecting the data layer, opening the door to use cases such as private DeFi trading positions and transaction history, confidential data co-computing with DID, and the development of light-node cross-chain bridges.

Phala Network (PHA) Current Market Status

Phala Network (PHA) is now trading at $0.2247 with a total market capitalization of $92,972,662.16 at the time of writing. According to CoinMarketCap, Phala Network is ranked 241 in terms of market capitalization. In addition, the price has decreased by 20.10 percent in the past 24 hours. The 24-hour trading volume of Phala Network decreased by 63.62 percent to $167,913,794.07.

Phala Network can be traded on major cryptocurrency exchanges, including Binance, KuCoin, Gate.io, Huobi Global, and Kraken.

Phala Network (PHA) Price Analysis 2022

Will Phala Network’s (PHA) most recent improvements, additions, and modifications help the PHA price rise? First, let’s focus on the charts in this article’s PHA price forecast.

Phala Network (PHA) Price Analysis – Keltner Channel

The Keltner Channel may be used to identify a trend when the asset’s price is plotted between two volatility bands. Phala Network(PHA) price may be predicted using Keltner Channel indications for PHA/USDT. Phala Network is the first half of the channel, meaning that more people are buying PHA. But after touching the upper band of the first half, the price is retracing back. Waiting for a few retrace candlesticks can increase the reward-to-risk ratio and provide investors with a better risk-free situation.

Phala Network (PHA) Price Analysis – Relative Strength Index

The value of the 1-day chart is 61.34. The RSI value is above 50, indicating more sellers are buying PHA rather than selling it according to the reading of the RSI indicator. After reaching the RSI level of 96.55, which can be recognized as the overbought zone, the price fell back and now trading at $0.2321. But for a better risk-to-reward ratio, investors should consider a few confirmation candlesticks and patterns before investing or entering the trade. 

Phala Network (PHA) Price Analysis – Moving Average

A 1-day Phala Network (PHA), 200-day, and 50-day Moving Averages (MAs) chart is displayed above. The above chart demonstrates that PHA is now trading above the 200-day and 50-day moving averages.

However, there is a high possibility that the 50-day moving average is trying to move higher above the 200 moving average. If that happens, we can see bullish movement for Phala Network. Investors might improve their risk-to-reward by waiting for a few confirmation candles and patterns before making a trade.

Phala Network (PHA) Price Prediction 2022

The daily chart of PHA/USDT shows that PHA is now trading inside a descending channel. PHA is now rising up to touch the upper trendline of the descending channel. However, if PHA breaks out of the descending channel and rises higher, it can reach its previous resistance level of $0.5898. Therefore, Phala Network (PHA) price prediction for 2022 is still bullish. 

Phala Network (PHA) Price Prediction – Resistance and Support Levels

Looking at the Phala Network 1 Day chart, the price of Phala Network has been decreasing over the past months since September 2021. Moreover, Phala Network has been fluctuating between $0.07442 to $0.4663 within the previous 30 days. However, Phala Network gained over 539% within the past 7 days, and now the price has pullbacks to its previous level. If Phala Network tends to fall deep, Phala Network might reach the last level of support of $0.0975, and breaking that support level might lead to $0.0788. 

PHA might reach the prior resistance level of $0.3117 if the bulls are able to regain their footing in the present bearish market and push the price higher.

Phala Network (PHA) Price Prediction 2023

There is a chance that Phala Network’s RSI will be above 70 by the end of 2022, indicating a strong bullish trend that should see prices over $0.3117 by 2022. Therefore, we should anticipate a minimum PHA price increase of $0.5191 by the end of 2023.

Phala Network (PHA) Price Prediction 2024

The Bitcoin supply will be cut in half by 2024. Consequently, we should anticipate a favorable market trend as a result of user sentiment and investors’ desire to acquire more of the coin. Due to the impact of Bitcoin’s price swings on the value of other cryptocurrencies, it is reasonable to anticipate that PHA will be worth at least $0.7963 by 2024.

Phala Network (PHA) Price Prediction 2025

If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect PHA to trade at a premium to its 2024 pricing. As a result, PHA may be worth roughly $0.9937 by the end of 2025.

Phala Network (PHA) Price Prediction 2026

As more and more institutional investors flock to the PHA platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of PHA may reach $1.2450 by 2026, even though the coin has generally depreciated during the same period. PHA is likely to break its all-time high value in 2026.

Phala Network (PHA) Price Prediction 2027

The halving of Bitcoin in 2028 is likely to trigger a bull market. As a result, if investors remain hopeful, the price of PHA may continue to rise and maybe breach previously established hurdles. Phala Network (PHA) may be worth $1.5645.

Phala Network (PHA) Price Prediction 2028

Bitcoin will be halved in 2028. So, a bullish run could happen before the market settles down in 2027. As a result, PHA’s potential ATH value of $1.7313 by 2027’s end is not out of the question.

Phala Network (PHA) Price Prediction 2029

By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of PHA might reach $1.9709 by 2029.

Phala Network (PHA) Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they wouldn’t miss out on future price gains. By the end of 2030, the price of Phala Network (PHA) could be around $2.2, despite the bearish market that followed a market boom in the early years.

Conclusion

PHA might reach $0.3117 in 2022 and $2.2 by 2030 if investors decide that PHA is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.