The current support price is above $585, and a strong rally looks imminent if the $600 close happens. This trend means ETH could experience its next break. ETH's price has been around the firm $585 levels, and an upward wave might take it to $607.
Major Signals
- Ethereum is setting up for a big break
- The price is strengthening above the $585 support
- ETH could drop if it fails to clear the resistance zone
On the contrary, the $600 and $602 resistance zone is a mountain to be moved. This shows that ETH price is around the $585 support and at the same time below the 100 hourly simple moving average.
Before any substantial increase can occur, there is a need for the bull to gain strength above that resistance level. If the price goes above $600, there will be chances it goes towards $620 and $635.
If the resistance isn't cleared and ETH trades above $600, the $585 might also be broken down, and the $570 and $565 levels will be the most likely resistance level.
*In your own opinion, is the bullish run still imminent before the end of 2020? *
