- Ethereum price prediction is bullish towards $600-620.
- Ethereum price is up over 8 percent.
- The ETH price is expected to go even higher as the ETH 2.0 launch date approaches.
Ethereum price prediction is showing some bullish momentum as the token price is over 8%, settling at $582 at the time of writing. Furthermore, the token’s price could go even higher towards $600 or $620.
Additionally, Ethereum gained bullish momentum when it managed to break free from the $530 resistance level. Even more, it went on to break the $550 resistance against USD. Notably, the token also surpassed the 100 hourly simple moving average (SMA).
If the bulls can push the ETH price above $592 then rallying to $620 is possible. This also means the ETH price is likely to surge towards the $620 resistance or the $623 swing high. A further sharp increase in the ETH price may lead to gains reaching the $700 level. Moreover, if the relative strength index (RSI) sustains above 60, it shows a bullish momentum.
Ethereum Price Analysis, ETH 2.0 Launching Soon
Furthermore, there was also a break above the 50% Fibonacci retracement level. Also, Ether tested the $590 resistance level. This could mean the bears are protecting the 76.4% Fib retracement level of the key decline from the $623 swing high to $478 low.
Adding on, any downfall break below the $580 support level might result in a further decline. The next major support is near the $560 and $550 levels. Following then, any further losses could lead ether towards the $530 support level.
However, there could be a minor downside correction if Ethereum fails to clear the $590 resistance level. Moreover, if the price goes down from the current levels to $520, a retest will be on the cards for the $482.
Obviously, Ethereum and the launch of ETH 2.0 on December 1st, it’s a pretty damn big deal for Ethereum.