3 reasons why traders expect Ether price to rally above $500 in 2020

On Nov. 6, Ether (ETH) price rose to $447 on Binance as (BTC) price pulled back to the $15,500 level after losing steam around $15,900. Based on Ether’s strong momentum, traders anticipate a broader rally to emerge in the near term.

There are three potential reasons why Ether could see a large uptrend in the upcoming weeks. The catalysts are: an optimistic high time frame technical structure, favorable on-chain metrics and the launch of 2.0.

weekly chart. Source: Crypto Capo, TradingView.com
ETH futures daily volume. Source: Skew