Lorenzo Stroe
Independent Analyst
- Ethereum price continues climbing above $600 as Coinbase just announced its support for Eth2.
- More than $500 million worth of ETH has been staked inside the Eth2 deposit contract.
Eth2’s phase 0 will launch on December 1 allowing everyone to finally stake their Ethereum coins. Coinbase, one of the largest exchanges in the world, announced its support for ETH2 enabling customers to stake on the exchange itself.
Ethereum price aiming for $800 if buying pressure continues mounting up
Ethereum is currently trading at $604, on the verge of breaking the 2020-high at $623. On the weekly chart, the digital asset seems to be facing only the $623 resistance level before a potential rise to $800.
ETH/USD weekly chart
Coinbase intends to enable customers to stake ETH2 and convert them into ETH coins and vice-versa. These features will be available starting in early 2021 for all eligible jurisdictions. The announcement is adding more credence to the bullish outlook for Ethereum price.
ETH New Addresses chart
Additionally, it seems that the number of new Ethereum addresses has seen a massive spike on November 27 from 170,250 to a current high of 352,640 per day. This is a significant growth showcasing the interest in the digital asset.
In our latest technical analysis of Ethereum, we discussed the potential bullish price targets on the way up. It seems that a breakout above $624 would quickly push Ethereum price to the 1.618 Fib level at $720 on the 4-hour chart.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
XRP gains as traders gear up for futures ETFs debut this week
XRP climbs over 3% on Monday, hovering around $2.33 at the time of writing. The rally is likely catalyzed by key market movers like XRP futures Exchange Traded Funds (ETFs) approval by the US financial regulator, the Securities and Exchange Commission (SEC), and a bullish outlook.
Bitcoin Price Forecast: BTC eyes $97,000 as institutional inflow surges $3.06 billion in a week
Bitcoin (BTC) price is stabilizing above $94,000 at the time of writing on Monday, following a 10% rally the previous week. The institutional demand supports a bullish thesis, as US spot Exchange Traded Funds (ETFs) recorded a total inflow of $3.06 billion last week, the highest weekly figure since mid-November.
Ethereum Price Forecast: ETH ETFs post first weekly inflows since February
Ethereum (ETH) recovered the $1,800 price level on Saturday after US spot Ether ETFs (exchange-traded funds) recorded their first weekly inflows since February.
Defi Development Corporation files to offer $1 billion in securities to boost its Solana holdings
Defi Development Corporation (formerly Janover) filed a registration statement with the Securities & Exchange Commission (SEC) on Friday, signaling its intent to offer and sell a wide range of securities, including common and preferred stock, debt instruments and warrants for the purchase of equity
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.