ETH / USD prices accumulate within a commercial range of $ 30


Latest news on Ethereum

According to Vin Armani, the founder of CoinText, CoinGeek and Craig Wright have a sinister plan for Bitcoin Cash ABC and other evidence of public blockchain such as Ethereum. He claims that Craig and Calvin are planning to launch a 51% attack on the Bitcoin Cash ABC network.

Although it would be the "maximum sacrifice" since it's expensive, their main goal is to discourage complete nodes from connecting to the Bitcoin Cash ABC client.

Read also: survey: 19% of respondents are very sure of the ICO market

What's more, November 17, along with their supporters, revealed ABC stress test plans by sending millions of small transactions causing a hoof with the intention of keeping the network in complete disorder. If this were to succeed, their next goal would be Ethereum and other labor-testing networks. It is clear that they are willing to suffer huge losses as long as there is a massive sell-off and even the capitulation of Bitcoin Cash. If the goal is reached, it will not be easy for complete nodes to migrate to their client they have full control over.

While this is happening, Ethereum is approaching the Serenity as the Forcella di Costantinopoli could revive its test network on January 16, 2019. However, the date is provisional and could be postponed depending on whether there are obstacles along the way or not. Remember, before the software update is complete, network participants should first agree on the difficulty bombs and the introduction of ASIC resistance capabilities in the ProgPow protocol.

Analysis of ETH / USD prices

Weekly chart

Analysis of ETH / USD prices

Although struggling with sellers, ETH / USD is in profit territory and up 2% in the last week. Regardless of this, it will take a lot of conviction until we recommend taking lengths in place. As in our latest Ethereum business plan, all we need are strong gains above the resistance zone at $ 250- $ 300 or discouraging losses below September lows at $ 160. In any case, it will be a break pattern, but it would be ideal if prices rose above $ 250 now that they were 11 months of relentless pressure from bears. Currently, it is clear that ETH / USD is consolidating within a $ 30 range with psychological support lower than $ 200.

Daily chart

Analysis of ETH / USD prices

The interval mode of the weekly chart is clear in this time frame and therefore the reasons why they refrain from performing operations. So as it is, ETH / USD moves horizontally as it builds up but, as they do, on September 5th, October 11th and 15 bars stand out. However, considering the dominant trend, we will focus on the lower lows of 5 September.

As a clear bear breaks out of the model's close below $ 300, it seems that sellers could end up checking that much if the bulls fail to build momentum and close above $ 250.

This would definitely nullify this bullish prospect, but it would confirm the same by ushering in another wave of lower lows if there were losses of less than $ 160. From the formation of candlestick, we suggest taking a neutral condition just waiting to break out with the first goal at $ 300 or $ 250.

All graphics courtesy of Trading View

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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