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- ETH / USD falls below $ 95.00; no follow-up.
- Ethereum d Lublin announces restructuring of ConsenSys.
Ethereum dropped to $ 95.17 during the early Asian hours before recovering to $ 103.82 at the time of writing. The third largest currency by market value has lost 4.6% in the last 24 hours; however, an upward correction is gaining ground when the price managed to cancel a local resistance at $ 102.40 / 50 created by SMA5 and SMA50 (15 minutes).
Technical framework of Ethereum
From a short-term perspective, ETH / USD is still limited by $ 110.00 with SMA100 (1 hour) set up right above this area. A further obstacle is created by the Fibo retracement level of 61.8% (daily) and SMA 50 (1 hour) to $ 107.00 / 20, and once this area has been canceled, the price it could continue to grow until Tuesday 113.52.
On the downside, the first support was created by the former resistance at $ 102.20 / 00. It is followed by a major obstacle on the approach to $ 101.00, reinforced by Bollinger Band 15 min Lower and Bollinger Band 4 hour Lower. If canceled, the sell-off will continue towards $ 100 psychological and at least Asian $ 95.17
Ethereum co-founder and ConsenSys CEO Joseph Lubin announced plans to restructure ConsenSys in view of the recent crisis in the cryptocurrency market, which saw the collapse of Ethereum by more than 50% in November and pushed ETH in third place in the ranking of digital resources.
According to Lubin, ConsenSys and the Ethereum development study are entering a new phase focused on efficiency and accountability. The company will exclude all low-performing ConsenSys projects, while the venture investment department will have similar functions as a startup accelerator.
ETH / USD, 1 hour chart
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