• 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
    Ethereum

    Ethereum Price Prediction: Can ETH breakout of $1600?

    Uniswap price prediction

    Uniswap price prediction: Uniswap to reject further upside at $27

    Dogecoin

    Dogecoin becomes the most popular cryptocurrency

    Digital Yuan

    Biggest digital Yuan trial to be rolled out in Chengdu, China

    Litecoin

    Litecoin Price Prediction: LTC eyeing $200 breakout

    Cyril Ramaphosa

    Is Cyril Ramaphosa leading the crypto adoption drive in South Africa?

    Bitcoin price

    Bitcoin price now above $51,000

    Bitcoin price prediction Bulls buy the dip to push BTCUSD past $50k

    Bitcoin price prediction: Bulls buy the dip to push BTC/USD past $50k

    Bitcoin price

    Bitcoin price could rally up to $50,000

    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
    • Sushi Price
    • Uniswap 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
    Ethereum

    Ethereum Price Prediction: Can ETH breakout of $1600?

    Uniswap price prediction

    Uniswap price prediction: Uniswap to reject further upside at $27

    Dogecoin

    Dogecoin becomes the most popular cryptocurrency

    Digital Yuan

    Biggest digital Yuan trial to be rolled out in Chengdu, China

    Litecoin

    Litecoin Price Prediction: LTC eyeing $200 breakout

    Cyril Ramaphosa

    Is Cyril Ramaphosa leading the crypto adoption drive in South Africa?

    Bitcoin price

    Bitcoin price now above $51,000

    Bitcoin price prediction Bulls buy the dip to push BTCUSD past $50k

    Bitcoin price prediction: Bulls buy the dip to push BTC/USD past $50k

    Bitcoin price

    Bitcoin price could rally up to $50,000

    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
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Ethereum News

Ethereum price tapers, but is $500 on sight?

Dalmas Ngetich by Dalmas Ngetich
August 17, 2020
in Ethereum News
3 min read
Ethereum price ETH

Image Courtesy of Flickr

585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

The Ethereum price is on a tear, literally dismissing doubters. The burst to the top is behind a slew of solid fundamentals that, unfortunately, builds more support for the project’s prospects. There is DeFi. It is Ethereum’s totem and largely attributed to the ETH price pump. 

According to Defi Pulse, a site that tracks the number of ETH locked by different DeFi dApps, over $6 billion worth of ETH is locked as collateral. This is 5X the amount when DeFi began gathering pace in early February when ETH soared to around $288. The demand for ETH is fanned by several factors. 

Proof of stake and Eth prices playing a role in security

First, some supporters argue for higher—or better prices, once Eth2 rolls out. 

RelatedPosts

Ethereum Price Prediction: Can ETH breakout of $1600?

Ethereum Price Analysis: ETH set to move lower again after sharply rejecting $1,600 resistance

ETH Price Prediction: Ethereum price to surge past $2000 mark?

Ethereum price recovers to $1,650, what next for ETH?

Because of Proof-of-Stake and validators required to stake their holdings to secure the network from bad actors, the Ethereum price must retain higher prices. 

And the path towards Eth2.0 is on track following the successful activation of the Medalla Multi-client testnet—the last in a series of rigorous test networks before the launch of the Beacon Chain mainnet in the next few months. 

The activation time remains tentative but will be likely in November or early next year. 

DeFi diversification and UniSwap

The second is the level of diversification DeFi offers. Despite the Bitcoin price expanding, a record number of coins are now tokenized in Ethereum for DeFi. 

The chance presented by DeFi through yield farming is what feeds Ethereum bulls further helping pump the Ethereum price.

Furthermore, Uniswap—a popular DEX where ETH is paid as fees—not individual DEX token, is gaining traction. Projects are beginning to list directly on Uniswap. The more popular it is, the better it gets for ETH demand.

Ethereum price analysis

Ethereum price tapers, but is $500 on sight? 1

The Ethereum price is trading at $422, adding roughly eight percent against both the USD and BTC. 

Bullish, the path of least resistance is upwards. From the daily chart, not only did prices break above the bull flag but behind the upswing was a swell in trading volumes. This uptick pushed ETH prices back above $400 as buyers cemented their position.

Given the FOMO, every low should be a buying opportunity. However, the failure of buyers to follow through on the end of last week’s gains as the Ethereum price shrinks back below $400 could signal a top. $400 is an important psychological support level and any breach to the downside may trigger profit-taking, sparking dumps. 

On the flip side, a simple retest to the support trend line—of the bull flag—and within Aug 13 trade range, and a swing higher in trend continuation may see ETH prices printing new 2020 highs in days ahead.

Chart courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author. This is not investment advice. Do your research.

Tags: Ethereum 2.0
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies. Enjoying the opportunity to help educate bitcoin enthusiasts, he writes insights and coin price chart analysis.

Related Posts

Ethereum
Ethereum News

Ethereum Price Prediction: Can ETH breakout of $1600?

March 3, 2021
Ethereum price prediction
Ethereum News

Ethereum Price Analysis: ETH set to move lower again after sharply rejecting $1,600 resistance

March 2, 2021
ETH price prediction
Ethereum News

ETH Price Prediction: Ethereum price to surge past $2000 mark?

March 2, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

Gary Gensler

Gary Gensler: How would the SEC fare under him?

March 4, 2021
xrp wallet

XRP Wallet: Should you get one?

March 4, 2021
Ethereum

Ethereum Price Prediction: Can ETH breakout of $1600?

March 3, 2021
Uniswap price prediction

Uniswap price prediction: Uniswap to reject further upside at $27

March 3, 2021
Dogecoin

Dogecoin becomes the most popular cryptocurrency

March 3, 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 2

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
    • Sushi Price
    • Uniswap 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.