The ether (ETH/USD) continued to decline and by Thursday was trading at $169,03.
If you consider the technical picture broadcast on the weekly timeframe, we can see that after a corrective rise to the level of 38.2% according to Fibonacci quotes develop a new wave of decline to the significant low of $80,86. For further reducing said downward dynamics of the MACD lines and the histogram of the red, says Dmitry Gurkovsky, senior analyst at RoboForex. But the momentum indicator warns of the possibility of rebound and new growth momentum to the level of 50% ($455).
The daily chart of ETH/USD indicates that downtrend is directed to the level of 76% ($163,2) relative to the previous rising trend. But as the main goal of short-term declines may be the support level of $137. With the development of the downward trend is formed by the convergence, which may indicate the approach of a rollback. The aim of the rollback will be the level of $231,45.
The 4-hour chart shows a slender downward-sloping channel, but the Stochastic indicator forms a convergence that can serve as an additional confirmation of the hypothesis about the option of rolling back. But it is necessary to wait for a Golden cross in the Stochastic.
According to the Director of Blockstream Samson MOU, Ethereum went to a technological standstill due to the unresolved scalability issues. Because of this, it is actually doomed to failure: the wider it is used the faster it will die.
MOU believes that this will happen including due to the fact that the lion’s share of Ethereum accounts for stablon Tether. Because of this, the Commission will continue to grow at a very fast pace, and sooner or later developers will be easier to move to a different blockchain.
Buterin Vitalik, founder of Ethereum, responded to these comments. He noticed the criticism to the fact that the Bitcoin network currently overcrowded exactly the same as the Ethereum network, so nothing critical happens. MOU sees the difference between the aspects of scalability have BTC and ETH and explained that Ethereum situation worse, because the network is used to compute various data, and it is clearly important to move forward.
Meanwhile domestic news Ethereum is not very positive. Update network Istanbul, which was supposed to occur October 4, is now postponed indefinitely — perhaps for November. This happened due to problems with the processing code cryptocurrency developers do not have time to complete this process.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex and ihodl are not responsible for the results that can occur when using trade recommendations submitted reviews.
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