Ethereum Bull Run is just Beginning after Reaching a New Monthly High

News • 2020/11/12 • by

The blockchain's steady rise has made ETH go past the resistance level and get a new monthly high.

Ethereum rose steadily above significant resistance levels of 455USD and 460USD. ETH broke the top resistance level and sat above the 100 hrs moving average, where it traded at a new high of $477.

Major Signals

ETH maintains $450- $455 bullish support level

ETH/USD may move up to $470

Ethereum traded a monthly high at $477

There was a downside correction to correct the price to $465. The first major hurdle was the regular price, and the new resistance near is now $488 even though ETH might get to $500. There might be a strong buying interest for ETH soon if more losses occur below the previous resistance. A bearish move could happen if there is a break below the support zone.

Do you think ETH might get to the predicted $500? Share your opinion in the comment section.

Comments (6)

Guest

visiblemoney

6 years ago

Ethereum might get there! The support level of $455-$465 have been tested repeatedly and after overbought it renounced to make $477 mark which invariably will take $488 as next resistance that can be surmounted in the next bull run to attain $500.

omogbai

6 years ago

I think the bull this time around may not come immediately after the halving. There likely will be a delay in time.

ajii12

6 years ago

i think it will get there, there seems to be a lot of enthusiasm in the crypto markets

igweozioma1995

6 years ago

👍

exodusab

6 years ago

Over the past few weeks Ether’s fundamentals have strengthened and despite a sharp downturn in the price of decentralized finance tokens, the number of active users in the Ethereum network has continued to grow. When Bitcoin price rallies Ether is usually the first beneficiary and this was the case again as BTC price rallied to a key multi-year resistance at $16,000. During bull cycles or even short-term uptrends, Bitcoin follows Ether and vice versa. Both cryptocurrencies tend to move in tandem, with either one frontrunning the other.