In December, institutional investors came to the fore on the cryptocurrencies scene, buying among others price lows on the Ether (ETH) cryptocurrency, which is a native token of the Ethereum network. As a result, the ETH has defended key support, stayed above $500 and consolidated at long-term peaks. At this point, the main resistance is at USD 635, and overcoming it would open the way for further strengthening before the end of the year.
- David Jones, Capital.com analyst, looks at the ETH/USD chart in his latest analysis and indicates potential growth ranges before the end of this year.
- ETH is one of the strongest growing cryptos in 2020, gaining around 350% since January
In December, the ETH established this year’s maxima at $640