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Latest news on Ethereum
Unfortunately for the development of the blockchain, the almost perpendicular fall in the prices of digital goods has precipitated in part thanks to the fear of the regulator and their tireless effort to cut direct investments in space in the name of investor protection – which is ridiculous – has largely contributed to this fall.
Alleged megaliths and industry leaders like ConsenSys feel the heat and days after urging their members to be competitive in the face of an increasingly competitive environment, the giant in a press release has decided to lay off 13% of its staff. Remember that they have a presence in 30 countries around the world and with investments in over 50 projects, so it's obvious that a good number of developers are out there without work.
To read: The president of the SEC states that sales of ICO tokens are a good way to increase capital if the rules are followed correctly
But there is hope and while Ethereum devotes all its efforts to address scalability problems whose first step is the implementation of Constantinople – whose activation date was mapped in mid-January 2019, is one of the few bright spots to watch.
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Through this bifurcation, the platform will be a step towards Serenity and in that ideal state, Ethereum will be scalable with the test of the game as a consensus algorithm in place. Once Ethereum deals with the throughput, scalability and disposition of the miners on the chain, there will be absolutely no reason for the projects to switch to EOS or Tron.
Price analysis of Ethereum (ETH)
Daily ETH / USD chart
Although we expect a rebound from this dredger, ETH is under enormous pressure. Negotiating within a clear breakout scheme, the bulls have difficulty coping with this wave of sellers.
It has dropped eight percent in the last day and perched to third place, sellers should have control until prices are less than $ 100. As seen from the chart, ETH / USD is blocked in a consolidation of $ 17 with a clear support to the December 7 lows of $ 83 and resistance to $ 100.
Assuming that the bulls close above $ 100 to complement the 7th ETH demand, traders should aim for $ 130 and then $ 160 with stops at support levels visible in the 4HR table. This could open the tracks for higher highs, helping to erase the harmful losses of November 2018.
4HR ETH / USD chart
The consolidation mentioned above is clear in this period of time. And unless there are strong gains that exceed $ 100 that trigger short-term buyers with $ 130 and after $ 160, sellers have control.
However, considering that the strong losses of the last 11 months have fallen below $ 83 or the lows of 7 December, the next wave of lower lows that will see the ETH test of $ 50 or worse by the end of the year will trigger. 39; year.
If the bulls are printed higher, our ETH / USD trading plan will be as follows:
- Buy: $ 100
- Stop: $ 85
- First goal: $ 130
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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