ETH surpasses $400 again with a 10% gain, possibly up to $500
ETH is once again surpassing $ 400 today, up more than 10% in 24 hours, hitting $ 429 at short notice. The last time Ethereum hit above $ 400 was a week ago, on August 6, when it hit a high of $ 403.49.
During the same 24-hour period, BTC increased by 1.60%, and LINK increased by 7.32%.
ETH’s trading volume increased from $ 12,408,772,745 (when the price was $ 391.02) on August 12 to $ 17,784,047,349 (when the price was at $ 429.84) – 10.43% increase in 24 hours. ETH has fallen in part due to a boom in interest and use of DeFi, a trend largely based on Ethereum. The last time ETH hit $ 429 was August 1, 2018.
ETH possibly up to $500
Trader “Crypto Rand” is still expecting ETH to rise further in the short term. He has come up with a chart showing a bullish target of around $ 500, pointing to a potential bullish flag that ETH is forming as a reason why the uptrend is imminent.
— Crypto Rand (@crypto_rand) August 13, 2020
As for the ETHBTC trading pair, analyst “Bagy” explains that Ethereum has reached a “decisive point” that will likely determine its medium-term outlook.
The analyst explains that he is expecting a rally of 0.0375 BTC. He also noted that a downward movement here could be significant.
Send it. pic.twitter.com/nIQqjO9cyO
— Bagsy (@imBagsy) August 13, 2020
Ethereum is still connected to Bitcoin, so in order for it to see a continuous spike above short-term resistance, BTC must also push higher.
- Chainlink price rallied over 30% and it traded close to the $17 level against the US Dollar
- Ethereum transaction fees have continued to surge as DeFi has continued its ascent to the crypto mainstream