ETH Price Likely to Hit $423 at 61.8 Fib in Summer 2020: Crypto Trader

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    A crypto analyst and trader expects the second biggest crypto to start rising and hit the 0.05661 BTC level by June next year

ETH Price Likely to Hit $423 at 61.8 Fib in Summer 2020: Crypto Trader
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Over the last two years, Ethereum seemed to be one of the most troubled platforms and cryptos with its congestion problems, Tron trying to lure its developer teams over to its blockchain, etc.

Now, that on Sunday, December 8, the long-expected Istanbul hard fork finally took place, some analysts are predicting Ether price to start growing and recover the $423 level soon after June next year.

‘Ethereum price to hit 61.8 level’

The Twitter-famous analyst CryptoWolf (@IamCryptoWolf) has brought some good news to the Ethereum community, sharing his thoughts on the ETH price spike he expects as early as summer next year (right after the BTC halving, funny as it sounds).

The expert believes that after more than half-a-year of a correction due to the Falling Wedge and three months of MACD bullish divergence, ETH has already broken out of its resistance area and is going to start surging soon.

CryptoWolf believes that at some point after June next year, Ether price will reach the 61.8 Fib level which means – 0.05661 BTC or $423 in traditional fiat.

ETH price
Image via Twitter

‘Hardly any more downside for ETH’

Another trading expert in digital assets - @CryptoMichNL – has shared a similar bullish forecast on ETH.

Speaking of the recent Ethereum FUD, he compares it with the FUD that hit the community when Binance announced the ban for US citizens on the main platform as it was about to open its American branch.

‘I don’t expect much more downside,’ he says about Ethereum price.

Must Read
Ethereum’s Istanbul Hard Fork: Comprehensive Guide - READ MORE

Ethereum seems to lack funds for devs

One of Ethereum developers, Nina Breznik, spreads the word, saying that next year the Ethereum Foundation intends to stop funding to internal dev teams, starting with young projects.

Ethereum has stopped finding her particular project PlayProject as of December 1.

In response to that, the Tron chief executive, Justin Sun, who views Ethereum as a major competitor and has been doing his best to let Tron surpass it since Tron’s migration from Ethereum to the mainnet, calls on Ethereum devs to migrate to Tron. Again - the first time he did it was a year ago.

In the fall last year, Justin Sun announced the creation of a special fund for financing those devs to decide to ditch Ethereum and start working on the Tron chain.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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