Saturday 19 the market lit up green, seeing the recent interruption in prices interrupted. Most coins started to rise with the cryptic leader over the $ 3,700 resistance level. This crucial breakdown meant that the suburbs broke the short-term resistance position. Ethereum responded by increasing $ 125.
After meeting resistance around the $ 125 position, the currency seemed to go back and settle around $ 124. Instead of extending its gains, today, Ethereum and the broader market have stepped back. The decline not only sees most of the coins clear their earnings from yesterday, but also fall below their short-term support levels.
Ethereum, at the time of the press, dropped slightly below $ 120. This comes after successfully holding above the $ 120 position for a week. Among the best cryptocurrencies, the fall of Ethereum from the last 24 hours was the most serious, with a drop of over 4% at the time of printing. The fall of Bitcoin is approaching this, with a decline of just under 4% as it struggles to stay above $ 3,600.
The Forcella di Costantinopoli has been delayed until the end of February
The Ethereum upgrade, which was canceled last week, was rescheduled for the end of February or early March. Second recent reports, the team has chosen the 7.28M block for the update, which sees it fall on 27 February.
To ensure the absence of problems, the team decided that the vulnerable Ethereum Improvement Protocol will not be included in the update. In the coming months, the team will continue to monitor Constantinople which continues to be in the testnet phase.
Given the date on which the update was scheduled, in effect, this will not be the catalyst for short-term prices for Ethereum. In the long run, maybe. So far, the update has become a topic of contention. Despite receiving major support from major exchanges and miners, as well as the Ethereum team promises a smooth run, the event had a major security problem, leaving many doubts about its success.
If implemented successfully, the upgrade is undoubtedly a major incentive for the Ethereum network and token.
In the coming hours, Ethereum is likely to continue to slide further below $ 120, unless it can recover beyond this crucial position.