ETH Price Prediction 17th Dec 2020

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.

ETH Price Prediction

4 hours chart of ETH

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.

 

ETH Price prediction

The weekly chart of ETH

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.

CME Announces Ether Futures Contracts

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