Ether (ETH) opened on November 20, 2020 at the $ 470 level. The period from 20 to 27 November 2020 was bullish for ETH despite highs – even higher – and stockings drawn by big red daily candlesticks.
A contract of 523,288 ETH to complete, the 600 USD to be crossed
On November 21, 2020, theEther hits $ 515, its highest in 2 years as whales move over 1 millionETH worth $ 535 million between anonymous wallets.
The deposit contract was then supplied to the tune of 30% of Ethers required for a launch of theEthereum 2.0 December 1, 2020.
2 days later, on November 23, 2020, the price ofEther jumped to $ 590, another 2-year high. The deposit contract then contains 50% of the Ethers required to allow the launch of phase 0 of theETH 2.0.
On November 24, 2020, the award forEther explodes again and hits $ 619. The deposit contract ofEthereum 2.0 contains enoughEthers locked for a beacon chain launch in early December 2020.
The bullish rally of Bitcoin (BTC) and the rise of DeFi have allowed the price ofEther exceed the $ 600 line. TheEther is trading at 502 USD today November 27, 2020, as of this writing.
Back on track
L‘Ether is expected to record its 4th consecutive red daily candlestick today. The bulls are struggling to recover its price after it was rejected to the $ 619 level.
TheEther recorded a large red daily candlestick on Thanksgiving Day as the price of Bitcoin collapsed and hit $ 16,600. He had already recorded big losses on November 25, 2020, the day before Thanksgiving.
Despite the beacon chain’s scheduled launch for December 1, 2020, the bulls are failing to regain control of the market. They still manage to defend the 500 USD line for the moment.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Will the Thanksgiving Bitcoin price crash “breathe life into” altcoins in general, as BTC has a habit of overshadowing them when BTC bulls start to run? Ether fails to rise again after strong selling pressure that led to its price being rejected at the $ 619 level. The fall will eventually stop, especially with a beacon chain going live soon. Provided that the 500 USD holds until then?
Litecoin, welcome in the Silver Age