Analysis of the daily and weekly chart of Ethereum (ETH): 28 August


  Ethereum (ETH) Analysis of daily and weekly charts: August 28

All things consistent, Ethereum is the worst performing currency in the top 10, adding three percent on a weekly basis in comparison. While we may see a short-term recovery, largely dependent on BTC's performance, the lack of consensus before a critical barrier should worry investors who are trying to catch their breath once they have successfully implemented several EIP proposals through Constantinople. [19659003] News in evidence

Consent. This is a necessity in blockchain. The test of working systems must be achieved each time a block is created in a working system test such as Ethereum. Ironically, missing and rare among the developers of Ethereum divided in half in the implementation of important proposals for improvement of Ethereum (EIP) before the major gallows of the metropolis, the Constantinople, scheduled for mid-October.

After two hours of deliberate deliberations led by Hudson Jameson on the way forward, progress is nothing short of slow. While Constantinople is design one of the milestones on the road to Serenity and the adoption of Proof of Stake, the implementation of the update of the Hard Fork features has been difficult for developers. Some also complain that the utopian request for a feature-rich, limited-time update is the root of this pressure and a possible violation of the deadline.

The contention around the debate as to how the community is preparing for a difficult fork is how best to tame the proliferation of ASIC miners, to advance on the rewards for the miners of the ETH and, above all, how to best cope with the Ethereum's difficulty bomb. These three are the main cause of conflict in the network and since nobody is compatible forward or backward with the Ethereum network, an update to the fixed fork upgrade, Constantinople, is the perfect channel to fix it once for all.

Ethereum (ETH) Technical Analysis

Weekly Chart

  Technical Analysis of Ethereum (ETH)
Weekly Chart of Ethereum for Negotiation

In the top 10, Ethereum remains the 39, the only resource to record huge losses on a week on a weekly basis. At current spot rates, ETH is down 5% confirming the week ending August 12, engulfing bearish and breaking below the candlestick.

In both cases, regardless of the attempts of the last weeks of higher highs, when we adopt a top down approach, the ETH is negotiated inside a cute bear burst diagram and at every minimum that prints in the weekly chart, momentum and run for $ 150 or lower withdrawals.

Looking at the chart, it is clear that prices are falling and the path of least resistance is selling on highs in lesser times with stops at last week's highs

Daily Chart

  Ethereum (ETH) Technical Analysis [19659015] Ethereum Daily Chart by Trading View </figcaption></figure>
<p>  Although ETH buyers are struggling to reverse the Loss over the past eight months, on August 17, the bullish engulfing model is a ray of hope for traders hoping for improvements. </p>
<p>  However, the only caveat for this projection is the adamant bears who are elastic and torsional bulls towards horizontal consolidation with short term triggers at $ 330-Aug 17. </p>
<p>  The lower limits of this move are at $ 250 and if there was a breach in either direction, our first targets will be anywhere between $ 350 and $ 400 on the upside and $ 150 on the downside with arrests on the low or high of the burst pattern based on the burst direction. For now, the bulls may be leading, but we remain neutral until the price action does not end. </p>
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Bitcoin, Ethereum, Tron, EOS, Litecoin Technical analysis of the price: August 28

Disclaimer : This is not advice and investment opinions represent that of the author. Do your research before making an investment decision.

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