Latest news from Ethereum
The evolution of Ethereum as an open source and decentralized platform towards an efficient global computer capable of storing and processing information safely requires the sacrifice and participation of all stakeholders. On the back of this is the need to address scalability and, of course, address the possibilities of centralization through ProgPow. Ethereum 2.0 or Serenity is where the platform progresses as network users differ about the best way forward.
While Ropsten was unsuccessful in forcing the team to postpone the launch of the Constantinople test network, a tentative date was set on January 16, 2019. It will still be so, but developers could still postpone until it has guarantee of a smooth transition.
Remember, the goal is to ensure that Serenity or Ethereum 2.0 is compatible with Ethereum 1.0. This delay is simply because developers are trying to integrate scalability options into the legacy chain.
In all this, it will be a step-by-step procedure before Serenity and the switch to PoS are active. First, assuming that everything goes as planned, then we expect to see the implementation of Beacon Chain in the first quarter. From then on we will see Sharding for 2020 and later the activation of Ethereum 2.0. Serenity guarantees scalability: more than 1000 times with synchronous affirmations that average 10 seconds.
Price analysis ETH / USD
The thing is that traders are struggling to make a profit.
Earnings are adjusted and, although the ETH / USD pair has risen 0.4 percent in the last week, the same margin has fallen on the last indicative day of a market in range.
As in our previous ETH / USD business plans, Ethereum is moving within a tight consolidation and struggling against sellers who have so far been successful in limiting prices within a $ 30 trading range.
Our commercial position finds good support from the September 5 bar. The bar press is not only in a bleeding market, but it is also wide and accompanied by high commercial volumes.
Therefore, considering that broke below the previous support now the resistance at $ 250, the subsequent accumulation of prices and the failure of prices to exceed the level of liquidation of bears.
Everything else is constant, it will be ideal if the buyers of ETH / USD get a boost to push prices beyond $ 250- $ 300. However, this seems unlikely because of the arrangement of the candles.
Trading volumes: Flat but low.
Before the breakout bar on September 5, average volumes were around 200k. With September 5, printing 544k and closing below $ 300 complete with wide commercial ranges, bears were in charge. Since then, the conspicuous candles with high volumes are from September 17 to 9 (bearish) and from October 15 to 9 (bullish).
However, these bars are still moving within a $ 110 exchange range with support at $ 160. For confirmation of the bear break bar, we need to see a high volume print bar below $ 160.
On the reverse, the bull's break bar should be behind strong volumes that exceed the last 10 days average of 130k.
Candle formation: Bear breaks and extends
As mentioned above, ETH / USD is trading within a bear break pattern with clear support at $ 160 and $ 300. Unless this accumulation / distribution leads to earnings above $ 250 - $ 300 resistance or decreases Under $ 160, the bassists are in charge, but the operators must take a neutral position.
conclusion
The fundamentals support the price and, with the activation of Constantinople, the users of the network would be a step forward to enjoy a scalable network and unparalleled transaction speeds. Meanwhile, we should see that optimism translates into price. In the chart, it is clear that ETH / USD is within the range and, unless there are breakdowns that define trends, we suggest taking a neutral position.
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