Ethereum Price To Hit $500 By End Of Year, Parabolic Rally Will Continue

At the present price of $279, will Ethereum (ETH) bump the $500 region by the end of the year?

So far, the top altcoin tried to recover from the sharp two-day selloff over the weekend. But once again, the resistance level imposed by the $285-$290 range is proving to be a stubborn roadblock for ETH to reach higher prices.

The market has had mixed reactions. Some have managed to maintain their optimism, giving little weight to the recent tumble, while some went as far as saying that the rally has exhausted ending any chance of a parabolic run.

Still, most technical signals scream bullishness. For instance, the golden cross already appeared on ETH's chart during the seller-dominant weekend. This pattern also appeared on Bitcoin's on Tuesday, and the market restored BTC to its $10,000 value. Bitcoin has always been the bellwether for all cryptos, so what's good for BTC is generally accepted as good for other cryptos as well.

Also, the case for a $500 Ether before the end of the year is asserted by crypto whale Angelo฿TC, who has a history of making accurate predictions. Angelo฿TC tweeted, "My minimum take profits as we approach 2021: BTC – $30k ETH – $500 XTZ – $10 XRP – $1. Good luck, have fun."

Popular trader Crypto₿ull has even a much dizzying target for Ethereum and other cryptos.

"My minimum take profits as we approach 2021: $BTC - $560k $ETH - $5000 $XTZ - $1500 $XRP - $589 Good luck, have fun," Crypto₿ull tweeted.

But at those price targets, it would take the same speculative atmosphere that occurred in 2017, which will also ignite the much needed FOMO to follow through. And although most cryptocurrencies are performing well since the start of 2020, some still believe that it's not the same case as it was three years ago.

With that Crypto₿ull offered some history lesson, "You can keep laughing at 'ridiculous' targets but know this $BTC was under $200 in 2015 --> $20,000 2 years later. $ETH was under $1 in 2015 --> $1,500 2 years later. $LTC was under $2 in 2015 --> $300 2 years later. $XRP was under $0.007 in 2017 --> $3 1 year later."