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Ethereum (ETHUSD) could have another attempt at $500

20 Nov, 2020

On Wednesday Ethereum (ETHUSD) rejected an attempt to break above $500 for the first time this year. The coin lifted to as high as 495.38. The price then crumbled to as low as 459.38 in a move that was consistent with an equally rapid pullback in the price of Bitcoin. However, since then Ether has been gradually trying to recover and mostly trading sideways until today. The price lifted rapidly earlier today during the Asian session. Ether jumped higher from a low at 469.50, to as high as 490.75 just a few moments ago. Naturally the rebound has taken some impetus from the move higher in Bitcoin this morning, but Ether is outperforming that in percentage terms today. It could be that Ether now has designs on lifting above $500 for the first time this year. Certainly if it can surpass the previous high at 495.38 then it could have a good chance of doing just that. ETHUSD is just now trading at 490.45

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