Ethereum [ETH] ETH / USD Price Analysis: Vlad Says the Blockchain is not "safe"

Latest Ethereum [ETH] News

Bears are vicious and as Steemit and ConsenSys restructure, ETCDEV is throwing in the towel and can not continue working in this "mess". In a statement, the group of ten coders who describe themselves as a "leading Ethereum Classic development company" and credited for creating several tools for coders as well as for maintaining.

This is partly because of their failure to raise funds from the Ethereum Classic community or from external investors.

Though this is totally unrelated to the Ethereum platform-Which we must admit that is also suffering from the serious price draw down and is more than 90% from 2018 peaks, it could end up being confusing for the crypto curious and the newbies in this space thanks to the "Ethereum" tag.

This is unfortunate and even if the other development partners of ETC as IOHK-through Charles Hoskinson, ETC Co-op, ETC Labs, and the exit of ETCDEV could hurt and even stall progress. With this exit, we will be sure how Geth will be maintained.

Meanwhile, Vlad Zamfir-a prominent Ethereum developer is worried about safety that the team is desperately trying to solve. While it is affirming that the network is secure and the EVM work is specified, he said there are no measures in place for the safety as well as for the "disclaimers and tools".

ETH / USD Price Analysis

Weekly Chart – Price prediction ETH / USD

Technically, ETH / USD is bearish and even though there are hints of support in lower time frames, ETH could end up collapsing to new 2018 lows more so if prices drop below the all-important, psychological round number at $ 100.

A course with a full bear bar print below previous support now at $ 160 and the failure of last week's bulls to erase those gains and even print above $ 130, there are real risks that the bear breakout

Daily Chart – Price prediction ETH / USD

It is even clearer. Although there is stability as bulls appear to reject lower lows below $ 100, what we need for aggressive traders to fade the trend is strong gains above our minor resistance line at $ 130.

Bullet reversal pattern set in motion by Nov 25 high-volume bull bar rejecting lowered and confirmed by Nov 28 bull bar could be confirmed ushering in the next wave of buyers aiming at $ 160, $ 250 and even $ 400.

Conversely, and as aforementioned, should ETH bulls falter and fail to hold at $ 100, the resulting drop would be catastrophic to coin holders – ICO treasuries might panic sell, stake holders and even miners

All Charts Courtesy of Trading View

Disclaimer: Views and opinions are those of the author and are not investment advice. Trading for any form involves risk and so do your due diligence before making a trading decision.