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Ethereum Long

by SignalFactory   ·  December 8, 2020 | 11:11:21 UTC  

Ethereum Long

by SignalFactory   ·  December 8, 2020 | 11:11:21 UTC  

Ethereum price has been a bit boring in the past few days. Today, the price is trading at $600, which is slightly lower than last week’s high of $635. It is also significantly higher than November 26 low of $478.

Ethereum has had a relatively successful year. The price has jumped by more than 580% from the year-to-date low of $88. That has made it a better performer than Bitcoin and other major digital currencies.

Further, the volume of ETH traded every day has jumped mostly because of the Decentralised Finance (DeFi) industry. For starters, DeFi is an industry that is decentralising the financial industry by helping people from around the world start fintech companies. In total, the total value locked in DeFi has increased from less than $1 billion in January to more than $14.7 billion.

In addition, Ethereum price has jumped because of the recent successful launch of ETH 2.0 phase zero upgrade. This upgrade will make the network faster, more user-friendly, and safer.

Meanwhile, according to Glassnode, more people are buying or using ETH. In their report, the number of Ethereum addresses with 1ETH have soared to more than 1.17 million, which is an all-time high. At the same time, another report showed that the currency’s realized price has shot to $287, which is the highest it has been in two years.

For starters, the realized price refers to prices that are actively used in the market. Additionally, the overall weaker dollar has helped push Ethereum price higher.

Ethereum Long (Buy)

Enter at: 595.51

T.P: 700

S.L: 493.50

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