• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    UK police appoint Komainu to custody seized cryptos

    UK police appoint Komainu to custody seized cryptos

    Bitcoin Price Prediction

    Bitcoin price prediction: BTC/USD tested $30k support before moving higher

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    UK police appoint Komainu to custody seized cryptos

    UK police appoint Komainu to custody seized cryptos

    Bitcoin Price Prediction

    Bitcoin price prediction: BTC/USD tested $30k support before moving higher

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Ethereum News

Ethereum price prediction – FOMO powered bull run takes ETH/USD to $581

Gurpreet Thind by Gurpreet Thind
November 23, 2020
in Ethereum News
4 min read
Ethereum price prediction – FOMO powered bull run takes ETHUSD to $581
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bullish Ethereum price prediction came true as the week ends
  • ETH/USD is on a new-found high and prints a fresh annual high of $581
  • Ethereum price rise comes after altcoins rallied post fresh BTC highs
  • Overbought technical indicators pointing towards short-term correction
Ethereum price prediction – FOMO powered bull run takes ETH/USD to $581 1
Cryptocurrency heat map by Coin360

Ethereum price prediction follows broader altcoin rally to touch $581

Ethereum has used the weekend’s thin liquidity to break through critical resistances to fresh new highs for 2020. The ETH/USD pair has risen sharply past the crucial $550 resistance to the $581 high. Since then, the pair has cooled off, and the price now trades well within Bollinger Bands. The sharp rise comes courtesy of the thin weekend liquidity, which the bulls exploited well.

Historically, it is well observed that Bitcoin rallies result in subsequent altcoin price rise. The most bullish Ethereum price prediction came true as the pair demolished successive resistances at $528 and $550. The largest altcoin has shown resilience towards overbought technical indicators and charted its bull run.

After touching the $581 high, the traders booked profits, resulting in a minor correction towards $548. However, the large green candles on the hourly charts remind traders that ETH/USD is on a long-term bull run. Investors must expect aggressive buying at lower support levels.

RelatedPosts

Ethereum price prediction: ETH to retest $1,400 resistance

Ethereum price prediction: ETH back towards $1400, analyst

Ethereum 2.0: There are 66.5k validators and 2.7 million ETH staked for Serenity

Ethereum has the potential to hit $10,500 – Fundstrat

Ethereum price movement in the last 24 hours – Massive buying spurs bull run

Bulls have shown that they still have the liquidity and volume to carry the uptrend further. After breaking out of the Bollinger Bands, the price has corrected near the bands’ upper end. The ETH/USD pair will undergo correction before resuming the rally, seeing the price touch a fresh annual high of $625 next.

Technical indicators are deep in the overbought zone. The upsloping moving averages are giving signs of exhaustion. Also, the RSI and MACD display overbought readings, which must tone down to resume the bull run organically.

On the other hand, bears must print an extended decline to dent the rally. The price must cross under $511 support to turn the tables around. Such a move can trigger massive profit booking resulting in subsequent sell orders and a break below the $488 support level. However, such a gigantic bearish move is unlikely in the face of a highly optimistic Ethereum price prediction.

ETH/USD 4-hour chart – Massive buying triggers breakout beyond $550

Ethereum price prediction – FOMO powered bull run takes ETH/USD to $581 2
Ethereum price chart by TradingView

The 4-hour ETH/USD chart reflects the bullish Ethereum price prediction made by many crypto analysts. The bulls started accumulation near the $504 mark and continued to 20-day EMA. The stagnant zig-zag price action was a set up for the massive weekend bull run. The overhead resistance at $550 was taken out aggressively as the price broke out of Bollinger Bands.

Ethereum price prediction of $580 comes true after a hiatus of three years. As ETH price went past the $500 psychological level, the cryptocurrency demolished many minor resistances above to print new highs. Last week saw muted price action from Tuesday till Friday. Today’s 6 percent rise marks the altcoin’s resolve to stay in bullish price projections. As of November, Ethereum has outperformed Bitcoin as the altcoin gained 284 percent in 2020.

The meteoric rise from March lows

Ethereum has been on a meteoric journey from its March low of $117. The weekly and daily charts paint an almost parabolic rise for ETH/USD. In comparison, Bitcoin has gained around 155 percent year-to-date.

As the new alt season’ emerges in the crypto market, investors are looking for mature assets. Ethereum promises a reliable ecosystem that can deliver suitable returns. The upcoming ETH 2.0 launch is further boosting the bull run. The expected launch in the first week of December is fuelling the bullish Ethereum price prediction. Once the dust settles after the ETH 2.0 launch, analysts predict a fresh all-time high for ETH/USD by the end of 2021.

Ethereum price prediction conclusion – Bulls are firmly in the driving seat

The $600 level represents a significant resistance zone that can derail the price due to profit booking. Ethereum faced stiff resistance at $600 back in 2018 as well. In case an extended sell-off materializes, bears will start from the $547 pivot point and accelerate towards $480 support.

Next week holds the key to further rise in ETH/USD as weekly technical indicators are still deeply overbought. If the bulls maintain momentum, the price can increase towards the $700 level on the daily timeframe. Going further, there is not much in terms of resistance as the pair crosses the $900 level to recapture record highs.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Tags: cryptocurrency tradingcryptomarket
Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

Ethereum price
Ethereum News

Ethereum price prediction: ETH to retest $1,400 resistance

January 22, 2021
Ethereum price prediction ETH back towards $1400, analyst
Ethereum News

Ethereum price prediction: ETH back towards $1400, analyst

January 21, 2021
Ethereum 2.0: There are 66.5k validators and 2.7 million ETH staked for Serenity
Ethereum News

Ethereum 2.0: There are 66.5k validators and 2.7 million ETH staked for Serenity

January 21, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

3 Great Places to Buy Bitcoin In 2021 3

3 Great Places to Buy Bitcoin In 2021

January 23, 2021
Bitcoin mining chips

Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

January 22, 2021
Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

Bitcoin whale MicroStrategy invests more in Bitcoin during dip

January 22, 2021
Polkadot price

Polkadot price prediction: DOT to rise to $20.00

January 22, 2021
Litecoin price prediction

Litecoin price prediction: LTC rebounds after failing to reach $120

January 22, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 4

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.