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On a weekly basis, ETH is down 10 percent and this is in contrast to fundamentals that are overly favorable to Ethereum (ETH). Remember, not only are there new developments like Moken launching and implementing new ERC standards, but ICANN's approval of ENS is definitely a huge advantage for the Ethereum (ETH) propulsion to the mainstream.
From the News
- Finally, the first modular ERC-998, the non-fungible token is ready for launch on the main Ethereum network. A modular token is simply a unique digital asset and there are two types: composable top-down and composable bottom-up. The ERC-998 tokens according to Mokens are an extension of the ERC-721 tokens that makes it possible to own other ERC-721 tokens. In turn, ERC-721 tokens can also own ERC-20 based tokens.
- Trinity, a second competitive solution for Ethereum, state channels could end up being distributed by the end of August. The team then plans to set up a configuration page for the Trinity-Ethereum node for non-technical users and then to optimize the Trinity application and NEO nodes.
- In collaboration with Ethereum Name Service (ENS) and Mind + Machines Group (MMX), ENS will be ready for integration with the WWW through their top-level domain, luxe. With this, every luxury domain will be considered a resource of Ethereum and in this case will have a corresponding hash percentage on the Ethereum blockchain. Encouragingly, the luxe domain will be resolvable after obtaining the much-needed approval from the Internet Corporation for the assigned names and numbers (ICANN).
Ethereum (ETH) Technical Analysis
Weekly Chart
Reducing 10% of the week by week, Ethereum (ETH) is at $ 50 from the lows of 2018 and $ 3 from exceeding the lower limit of our $ 150 trading range with $ 400 plans.
we could see further losses of Ethereum (ETH) considering that last week the Bear swallowed the broken candlestick under the highest level of July's attempts.
In addition, closing as a strong bear, ETH sellers are now synchronizing with the May-June losses and returning to the last trend of the last seven months
On the other hand, however, the bulls of Ethereum (ETH) have to reverse the losses of the last week and maybe print over $ 550 for a chance against this 13 percent month in a month Losse S. All in all though, we recommend shorts with ideal stops at last week's highs with the first targets at $ 350 and over $ 150.
Daily Chart
Ethereum Daily Chart by Trading View [19659010] Not only are we bearish for today, but we also expect the following of yesterday's sellers. Ideally, what we want to see is an entire candelabra that closes below $ 400. $ 400 is our main support trend line and the lower limit of the commercial range of the last 40 days.
As we repeated several times in our past technical analysis Ethereum (ETH), when that happens, we can begin to download ETH on each relegation or retest of $ 400 with the assurance that the third phase, the phase of recovery of the trend, of that bearish break-out model of 10 June.
Our first and short term targets will be $ 350, minimum 2018 and after $ 150, Q4 2017
Disclaimer: The opinions and opinions expressed are those of & # 39; author and do not constitute an investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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