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.
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.
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.
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!