Ethereum, Cardano & Band Protocol – American Wrap: 12/17/2020

Ethereum 2.0 Deposit Contract Breaches $1 Billion Staked While ETH Price Aims For $1,200

The interest in Ethereum staking continues growing as more than 1.52 million ETH have been locked inside the Eth2 deposit contract in just one month. At current prices, this represents over $1 billion.

Although most of the recent price action is due to Bitcoin reaching new all-time highs above $23,000, the amount of Ethereum deposited inside the Eth2 deposit contract remains a notably bullish factor.  

Cardano Price Faces One Final Resistance Level Before A Full-Blown Rally Towards $0.20

Bitcoin had a massive breakout towards $23,800 for the first time ever and it seems to be dragging the market with it. Cardano price is up by only 13% since Wednesday, which means bulls still have a lot of room to the upside. 

Cardano has established a crucial resistance level at $0.173, which has been tested several times since November 24. This is the final resistance point before a new 2020 high above $0.183. 

Band Protocol Price Prepares For A Potential 50% Move To $11

BAND has been trading inside a price range between $8 and $5 for the past three weeks and seems to be on the verge of a massive breakout. The digital asset faces a critical resistance level at $7.5.

Bitcoin price reached a new all-time high and several cryptocurrencies are trying to follow it. Band Protocol price is contained inside an inverse head and shoulders pattern on the 4-hour chart.

Image sourced from Pixabay

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