Ethereum Price Initiates a Bull Run Towards 0, Is k Imminent?

Posted by John Kammy on December 16th, 2020

Ethereum More Propitious than Bitcoin

Ethereum in the recent items has showcased a sense of stability by maintaining less volatility than even Bitcoin. Many analysts still believe Ethereum price is still highly undervalued and one of the reasons is ETH being poured in millions in Defi. However, they expect the ETH price may explode in 2021.

Some of the analysts believe ETH price may surpass 00 and touch 50 after the consolidation. 

According to the analyst Altcoin Sherpa ETH is currently following its ‘Bullish December’ trend, it showcases every December for the last 3 years. He further says that Ethereum offers at least 100% ROI every December.

The prices exploded from 7 in the first week of November to 0 in the first week of December, which almost 100% growth in a month. However, the current price is slightly lower than 0 but expected to touch 00 soon.

Ethereum price currently is heading strongly towards its next set target at 0 initially. Once the target is hit and maintains above it successfully, ETH bull rally is unstoppable. Currently, ETH price is trending within an ascending triangle, moving upwards awaiting a strong breakout.

ETH price at the time of composition is 5 with a dip of 0.68 percent in the last 24 hours. 

The Ethereum price needs to get tested at an initial resistance of 7, post to which the next resistance at 0 will be imminent. However, the strong support levels are very close at 0 and need to sustain very strongly above these levels.