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Latest news on Ethereum
To mark 558th of "He dies Academicus", The University of Basel – which is one of the oldest universities in the world that gives impetus to the alumni as Leonhard Euler, Daniel Bernoulli and Friedrich Miescher have assigned the co-founder of Ethereum, Vitalik Buterin, with an honorary degree in Economics for "its contribution to the promotion of decentralization and equal participation in the digital revolution, as well as its services on cryptocurrencies, smart contracts and institutional design".
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The Department of Economics and Commerce recognizes the impact of Vitalik's contribution to the progress of the blockchain and the crypto industry. The twenty-four co-founder of Ethereum, the world's first intelligent bargaining platform, has published several scientifically valid publications without a degree after dropping the University of Waterloo to 20 years to pursue his blockchain passions.
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He continued to receive $ 100,000 with the Fellowship Thiel and two years later created Ethereum, a dApp building and a smart contracting platform where projects can create censorship-resistant apps, while projects can be crowded by everyone without having to bother. paperwork.
Analysis of ETH / USD prices
Weekly chart
In third place, ETH / USD is still liquid, although it fell by 8.5% in the last week and by 7% in the last day. As expected, the path of least resistance is clear above all because of the entire bear bar that not only confirmed the bear breakout model set in motion by declines in early August, but closed below $ 160 suggesting the momentum of the underlying bear.
As stated in our previous analysis of ETH / USD prices, all we need are strong gains over $ 130 and $ 160 before we can safely vanish the current bear moment and aim for $ 250 and after $ 300. Agreement with the candle, it is clear that the bear's moment is strong and the odds are that we could see breakages below $ 100 psychological.
If this unwanted merger is printed, we expect ETH to shrink to $ 40 and, in the worst case, to $ 2.
Daily chart
Ideally, what we would like to see is a solid confirmation of the inversion model of the three-bar bull on November 28th. This, as illustrated in the previous ETH / USD price analysis, could help raise prices above $ 130 and $ 160 in a new test phase of a general bear breakout pattern.
However, the seven percent loss yesterday could exacerbate because if prices fell below $ 100 following high volumes, we could see the recovery of the bear and it could be a drain that would lead to ETH. for $ 75, $ 50 and $ 1.
Therefore, due to these probable scenarios, it is advisable to maintain a neutral position until prices will not exceed the November 28 highs of $ 130 by switching aggressive traders who aim for $ 160 or dips below $ 100 in a shooting move. of the trend.
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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