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Ethereum Ethereum TradingView

Ethereum Price Prediction – The Adjustment is finally HERE, will it extend throughout Christmas Holidays?

Posted On December 24, 2020 Rudy Fares 0

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It seems that cryptocurrencies tend to react in a predictable pattern every year, making them highly prone to success when trading using technical analysis. As soon as the Christmas holidays started, the whole cryptocurrency market became in the red, adjusting back to their respective averages after extended price increases for weeks. Ethereum’s price is no exception and is in turn, adjusting in prices. Will this price adjustment extended post-Christmas? Read on to see how we at CryptoTicker spot trends ahead of time.

Ethereum Price Prediction – A STALL in prices

2020 was a marvelous year for Ethereum, having a low of USD 90 and a current price of USD 580, or a 544% increase. This is by far one of the best return on investments out there in any marketplace. Not everyone managed to catch that low price for sure, but any purchase along the way would’ve been a great yield.

ETH/USD 1-Week chart, Ether price increase in 2020
FIG.1 ETH/USD 1-Week chart, Ether price increase in 2020 – TradingView.com

The uptrend shown in figure 1 is sure a healthy one, compared to the price hike in 2017, where prices lacked fundamentals, thus crumbling just after Christmas. This year, Ethereum is being used by many projects that rely on the Ethereum blockchain, projects that serve a meaningful purpose and solve a real-life problem in our day to day activity.

ETH/USD 1-Week chart, a contrast between 2017 and 2020
FIG.2 ETH/USD 1-Week chart, a contrast between 2017 and 2020 – TradingView.com

Ethereum’s “What-If” scenario

Recently, Ether’s price has been on an extended price increase with no significant adjustment in prices. We did hitherto warn of multiple upcoming price adjustments in previous articles. For Ether specifically, a natural adjustment would be back to USD 450 area if the adjustment turned sour, or USD 520 for a lighter downfall.

ETH/USD 1-Day chart, a potential retracement towards lower areas
FIG.3 ETH/USD 1-Day chart, a potential retracement towards lower areas – TradingView.com

The Cryptocurrency market

In the past 24 hours, the whole cryptocurrency market was seen lower, with some coins having a neutral price, and others having a significant price decrease:

1- Bitcoin (BTC) : + 0.89 %

2- Ether (ETH) : – 2.67 %

3- Tether (USDT) : 0 %

4- Ripple (XRP) : – 12.18 %

5- Litecoin (LTC): + 1.58 %

6- Bitcoin Cash (BCH) : + 0.54 %

7- Binance Coin (BNB): + 0.93 % (surpassing Chainlink)

8- Cardano (ADA) : + 3.31 %

9- Polkadot (DOT) : – 1.15 %

10- Chainlink (LINK) : – 9.27 % 

Stay Ahead, Stay Updated and MERRY CHRISTMAS!

Rudy Fares

Follow CryptoTicker on Twitter and Telegram for daily crypto news and price analyses!

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This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#christmas#Ether#Ethereum#Ethereum (ETH)#ethereum price#Ethereum Rising#holidays



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