- The imminent fork makes traders nervous.
- ETH / USD is limited by DMA100.
The cryptocurrency markets are fairly quiet at the start of the year. Experts believe that traders and investors are sitting on the fence in view of the main update of the Ethereum network. The release of the new protocol also known as the updating of Constantinople is scheduled for January 16th. Basically, Constantinople is also a difficult obstacle. However, unlike the recent debacle with Bitcoin Cash that has led to a difficult and messy fork, the Ethereum community has no discrepancy about the upcoming changes. However, it can still lead to a period of uncertainty and carries some risks for active traders.
"In this imminent case, the update of Ethereum has been widely accepted by the community and so far there have not been great players protesting against Constantinople (the name of the update), so it will most likely be a regular update This means that the entire network will probably implement the update together and there will be no action required by end users, "according to Mati Greenspan, senior market analyst at eToro.
More information on the imminent dissolution of Constantinople
The fork will be at block number 7.080.000, which means that all client applications with full node support need to be updated for that moment and run the new protocol version to avoid more forks.
ETH / USD is changing hands at $ 154.92, down the recent high reached at $ 163.74. The currency is limited by DMA100 currently to $ 164.62 and is unlikely to be eliminated before hard work takes place. Local support was created from $ 150.00 and followed by DMA50 to $ 120.55