Ethereum's latest update: The Ethereum Foundation offers a $ 5 million grant to peer technologies, while ETH consolidates against the dollar


According to a post on the official Ethereum Foundation blog, the organization awarded a $ 5 million grant to Parity Technologies. The grant was given to help the company work on scalability, security and usability. It will be used to finance lightweight client development tools, Casper, sharding, infrastructure improvements and audits. The first part of the fund will support a development that has already been completed by Parity. The other rounds will be delivered after Parity completes eWasm, a (lightweight) wallet for the mainnet. They will also complete phase 0 and 1 of sharding.

Parity has always worked with Ethereum to develop customers. In November 2017, $ 280 million in ETH was accidentally made unreachable by a user of the Ethereum Parity multi-design portfolio. This was due to a vulnerability in the smart contract. In April 2018, when ETH was worth $ 360 million, funds were released from where they were after a week-long voting process in which the reversal was completed .

Ethereum (ETH) Consolidates against USD

Last year, the price of Eth fell significantly compared to the USD from its historical high of over $ 1500 to a minimum of $ 80. Towards the end of the year, the price has rebounded to $ 160. This recovery could be due to the upcoming update of Constantinople. This morning, the price of the ETH was well placed above a key support against the USD while it moved higher towards $ 146. Please note that the decline started after ETH tested resistance to $ 159 and $ 160. Support for $ 146 was strong enough to hold down the price and prevent a further fall. After a while, the price started to rise upward until it broke the resistance at $ 150. A few minutes later, it broke the resistance at $ 152.

ETH passed above the fiber retracement level of 23.6% of the last fall from $ 160 to $ 146. Strong resistance formed around $ 154- $ 155 levels along with a line trend bearish linking. If the price breaks above the resistance at $ 153 and $ 154, it will rise above $ 157.

The price of ETH is firmly supported at $ 146. In the short term, there is the possibility of a range movement between $ 146 and $ 148 which will most likely mark the upside break. Because the bulls accumulate enough momentum, the price must exceed the levels of $ 154 and $ 157.

Price Ethereum (ETH) today – BTC / USD

The MACD on hourly chat is bullish, while the relative strength index is above 50. This is also a bullish signal. There is significant support at $ 146 and significant resistance at $ 154. At the time of writing, the price of ETH was trading at $ 152. This shows that it is up 2.16% over the US dollar and up by 0.86% compared to Bitcoin. The trading volume over a 24-hour period is $ 2,455,187.788. The market capitalization is $ 15,900,224.974. If ETH continues to trade bullish for the rest of the day, it may exceed the resistance of $ 154 before attempting a downward correction.

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