Ethereum (ETH) Price Prediction for October 20

Bulls keep holding the initiative on the last day of the week, according to CoinMarketCap.

ETH/USD

The rate of Ethereum (ETH) has increased by almost 2% since yesterday. Over the last week, the price has risen by 9.70%.

On the hourly chart, the price of ETH has rocketed after a breakout of the local resistance of $2,653.

If the daily bar closes above the aforementioned mark, the upward move is likely to continue to the $2,750 range tomorrow.

On the bigger time frame, the rate of the main altcoin is testing the $2,702 level. If a breakout happens, the accumulated energy might be enough for a test of the $2,800 zone within the next few days.

A bullish picture is also on the weekly chart. If the candle closes around the current prices and with no long wick, there is a chance of ongoing growth to the $2,800-$3,000 area by the end of the month.

Ethereum is trading at $2,702 at press time.

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