Ether (ETH) returned to $ 500 for the first time in more than two years on November 20while altcoins slowly recovered from their poor performance.
The price of ether is $ 500 after more than two years
Data from Cointelegraph Markets, Coin360 and TradingView showed this The ETH / USD pair briefly encountered the psychological trading barrier on Friday before a rejection halted progress.
Despite an upper limit of approx. 6% of daily earnings at the time of going to press Ether’s performance wowed traders, who found that the largest altcoin overall outperformed Bitcoin (BTC) in 2020.
The year-to-date return is 284% for Ether and 155% for Bitcoin.
Given the price drop in mid-March, shortly after the coronavirus-induced drop in cross-assets, Bitcoin remained the strongest player. At this moment ETH / USD traded at just $ 117, which increased Friday’s 327% while BTC / USD rose 411% from $ 3,600 to $ 18,420.
Plus the $ 500 visit – Ethers first since June 2018 – Other major altcoins also showed signs of life, notably Litecoin (LTC), which outperformed Bitcoin that day, up 12%. and it’s the only major altcoin to top BTC in the past month – by 7%.
Michaël van de Poppe, an analyst at Cointelegraph Markets, had previously argued this A new “old season” would have to wait, but that could be a realistic maximum for the next Ether run reach $ 20,000.
In an interview with Van de Poppe for Cointelegraph, CEO of Nugget News, Alex Saunders predicted that ETH / USD would surpass its current all-time highs of $ 1,400 by the end of 2021.
Bitcoin again defied the high of $ 18,420
For his part, Bitcoin attracted most of the attention on Friday, reclaiming the $ 18,000 mark and continuing resistance at its previous high of $ 18,420 earlier in the week.
The expectation of new profits remains strong; The highs of $ 20,000 in 2017 form the highest single resistance level on the chart.
No downside reversal has occurred yet, possibly as low as $ 11,600; The $ 17,200 mark is currently serving as solid ground for the bulls.
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