Ethereum: where the price will go in 2021
ETH's outlook has improved amid rising BTC prices and news of a new futures product on CME. Analysts predict growth to $1200 in 2021
The second most important cryptocurrency after Bitcoin (Ethereum) crossed the $600 mark on 12/16/2020. The news comes on the heels of a bullish spurt in Bitcoin on Wednesday afternoon. The news from the Chicago Mercantile Exchange (CME) also delighted investors:
ETH futures will be launched in 2021
The decision to launch futures is driven by growing customer demand. After all, many investors are interested in such a valuable trading tool. Recall that BTC futures have been available for investment for 3 years now and are in good demand.
Ethereum demonstrates strong capitalization on a daily basis as well as daily trading volume. By launching futures, you can better manage your risk when investing in cryptocurrencies
Today, the cost of ETH has grown by seven percent, and this is not the limit. It is likely that the cryptocurrency will update its annual maximum today.
The four-hour ETH / USDT chart shows how the cryptocurrency is actively testing resistance at the upper bar. In many ways, this activity is fueled by Bitcoin's successes.
Today, BTC, as we have already reported, has broken through a historical maximum and crossed the 20,000 threshold
The chart shows that the price of the cryptocurrency tested the support level of $480, then jumped to $630, followed by a return below and the formation of a new support zone at $530. This bullish double bottom construction was also demonstrated today by Bitcoin.
Next in line is a new test of resistance levels. Moreover, analysts predict that the activity of traders and good support will provide an opportunity for a breakout and reaching a new annual high. This is more likely if Bitcoin consolidates and does not drop sharply in price.
2021: will there be ETH at $1000
It is believed that ETH will overtake BTC in 2021. A well-known crypto investor and analyst with the nickname SalsaTekila tweeted about this on his Twitter account. According to him, he raised a n-th amount of money in ETH in preparation for Ethereum's insane rally in 2021.
I own an uncomfortable amount of $ETH (spot). Bought more again today, with the trading gainz. I think it will outperform bitcoin in the coming year. It's the only way I can hold a swing trade for a long time: by owning the asset. I would never succeed with leverage.— SalsaTekila (@SalsaTekila) December 13, 2020
The information will be of interest to all altcoin investors. After all, this optimistic forecast is exactly what is needed after a difficult year in all respects in 2020.
SalsaTekila is known in the cryptosphere for making money out of thin air. In the summer of 2020, he multiplied his capital by $100,000 by investing just a couple thousand in a trading competition
If you look at the weekly chart of ETH / USD, then it is quite possible to predict that the price of ETH will at least double if the trends currently on the chart persist.
The next impulse can bring the price of the second most important cryptocurrency to 800-850 and even 1150-1200 dollars. It all depends on market sentiment.
The main question is whether the cryptocurrency will be able to find a sufficient level of support in the event of a BTC rollback below $20,000. Our editors will follow the development of the situation and inform you about the arrival of important data!