The Ethereum price appears to have run into strong resistance at $420. So far the Ethereum price analysis has been enjoying rapid gains, with only the last 7 days having seen a 12% increase. It was the break above the $390-400 zone that put the second largest cryptocurency in a positive mode, and that’s also what is shaping an optimistic Ethereum November forecast.
Miners are also keener on keeping the coins they mine now, which is significantly reducing the pressure on the Ethereum price. November 2020 is therefore looking very promising, as we’re likely to see even more gains for the Ethereum price. November may, in fact, see the price successfully overcome the $420 barrier in its early days already.
Furthermore, with the approaching launch of ETH 2.0., the Ethereum forecast is almost guaranteed to see further growth. There are also plenty of indicators in the Ethereum technical analysis as it is to support this.
However, before we can speak of any remarkable heights in the Ethereum forecast, November needs to first see a breach above what was once a strong support level and is now a major resistance point – $420. And once that hurdle is overcome, the nearest Ethereum price target we will be looking at is $450.
Watch the full video for our take on the Ethereum November 2020 price analysis and a deeper insight into what to expect from the cryptocurrency in the weeks ahead. And drop us a line in the comments with your thoughts on our Ethereum price prediction.
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