Ethereum Breaks Resistance, Can it Take $300? – Trustnodes

Ethereum Breaks Resistance, Can it Take $300?


Ethereum's price, July 2020

After weeks of sideways, ethereum has had enough. Leaving bitcoin behind to rise by about 10% to $265.

Bitcoin rose slightly as well by 1.65%, overtaking once more $9,500 with it to be seen whether it can head to $10,000.

This significant gain by eth on increased volumes means the ratio has risen too, now at the highest level since March.

Ethereum bitcoin price, July 2020
Ethereum bitcoin price, July 2020

Ethereum is now close to reaching 0.028 bitcoins, a level it hasn’t taken in more than a year, but resistance seems to have been broken.

Whether that can be maintain and even lead to further gains is for the weeks and months ahead to say.

But defi and staking may well be riding a bull of sorts, with a lot of value that went from eth to bitcoin in the bear years potentially returning.

That should lead to some ratio gains, and thus dollar gains, with $300, which for bitcoin would now be $10,000, being the new resistance.

Eth was close to overtaking it in March with this $20 movement yesterday being the biggest since.

It occurred when China woke up, so maybe the staking news has finally made it there with information usually taking a few days to travel.

The deposit contract is to launch now as well on testnet in days Danny Ryan of Ethereum 2.0 said. So that might be making things a bit real.

Then the testnet in just over a week when all can see what is this thing, and so ethereum maybe gets the show for a bit although the defi bois are still jumping even more.