ETH Price Prediction 17th Dec 2020
In the last post about ETH price prediction, I have mentioned two scenarios from which the one is executed. As I told, either ETH will retest the trend line or consolidation below resistance (which is a bullish sign).
On a historical day 16th December 2020, BTC Pumped and made a new all-time high 🎉. With that other big cap coins like Ethereum, Ripple, Litecoin pumped too. Let’s check out the ETH Price prediction for the upcoming days,
ETH Price Prediction – What is next? 🤔
Despite psychological resistance or technical analysis based resistance level ETH price shoot up very nicely with daily candle closing above the daily resistance zone.
Above chart is 4 Hrs chart, with the comparison with the 2017 bull run, after the breakout from the range ETH price can touch up to $750 – $800.
- Daily Candle is a huge green candle with a small wick on the upside: Small wick on the upside shows the lack of sellers.
- Technical Analysis wise in the weekly chart, there is no hidden divergence found in RSI or MACD.
- In the weekly chart, last week was super bullish with a huge buying wick.
Fundamental Reason of ETH is very Bullish
- The Chicago Mercantile Exchange (CME) announced Wednesday it would launch a futures contract on Ethereum, the world’s second-largest cryptocurrency by market value, in February 2021.
- An institution like GrayScale and others are adding ETH in assets class.
- Last but not least, ETH itself is the best cryptocurrency with its purpose.
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