Ethereum NewsPrediction

Ethereum Price Prediction: Rocket High Beyond $500

  • Ethereum price gained +16.5% in the last 7 days.
  • Bullish Ethereum price prediction can go over $500.
  • Bearish Ethereum price prediction is $369.

Ethereum is one of the most famous digital assets in the crypto world. Startups often use its technology in creating their cryptocurrency platforms. As a result, the mass adoption of the Ethereum token keeps growing each day. Today, Ethereum price trades at a high price of $453.52, with a growth rate of 16.5% in the past seven days.

Source: TradingView
Source: TradingView

The chart above shows the uptrend position of the Ethereum price from March to the present. It displayed its huge growth rate of 413% from its bearish dip in the first quarter of the year to its current price. If this goes on, the Ethereum price might breakout from its resistance level of $467.75 and reach $480 to $490. It could even boost to over $500 if the market continues to favor the crypto.

However, if the bulls turn against the crypto, the Ethereum price could fall. It could fall as deep as $369 with a decline rate of -18.19% from its current price of $453.03. In this case, the bulls must find a way as soon as possible to recover. Otherwise, the bears might turn the $369 support level to its new resistance level, which is not good.

Meanwhile, the relative strength index (RSI) is now above level 60. This indicates that the crypto is nearly overbought. In this case, the bulls must encourage more investors in the platform to avoid a possible downward movement.

On the other hand, the Ethereum 2.0 launch on December 1 opens its platform for deposit contract staking. This may be a contributing factor to Ethereum’s surge in price in the coming days.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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