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- The ETH / USD does not show signs of imminent recovery.
- ConsenSys deals with parts with 13% of its employees.
ETH / USD is changing hands at $ 84.56, down more than 17% in the last 24 hours. The third largest currency by market value is taken by bearish feelings, caused by widespread panic in cryptocurrency markets and fundamental domestic developments.
Thus, the Ethereum production studio in Brooklyn, ConsenSys, distributes 13% of staff based on the recently announced priority change.
"Excited about ConsenSys 2.0, our first step in this direction has been difficult: we are rationalizing different parts of the business including ConsenSys Solutions, spokes and hub services, leading to a 13% reduction of mesh members" the company announced on Thursday .
The company has enjoyed rapid growth for four years and has brought together about 50 startups under the wing.
Technical framework of Ethereum
From a short-term perspective, ETH / USD is capped at $ 85.00. A higher sustainable move is needed to bring back $ 90.00 and $ 100 critics. Meanwhile, the Relative Strength Index (RSI) points down, signaling that bears are still at the driving wheel. If they manage to push the price below $ 83.00 and at the Asian minimum of $ 82.15, the sell-off momentum can gain traction towards $ 80.00
ETH / USD, 1 hour chart
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