Ethereum this week tried to rise after Bitcoin, but while its dynamics is clearly lagging behind the flagship. On Wednesday afternoon, July 25, Ethereum is trading at $473,52 and a little bit back, according to Dmitry Gurkovsky, senior analyst at RoboForex.
It is remarkable how events unfolded in the last day. Ethereum has grown dramatically, starting from the support at $450,00 and touching $485.00 is in one session. At the moment the cryptocurrency stopped at $479,00 where I started a small local correction. On the eve of the trading volume Ethereum twice the average daily indicators.
Significant technical resistance for Ethereum is at $482,00 on the same line is the 50-DMA, which so far limits the growth momentum. In that case, if bitcoin manages to break through this mark and rise above will open the way to $500,00, and then to $515,00-516,00. If Ethereum will not be able to effectively penetrate indicated resistance, external background will force investors to sell cryptocurrency to the price reduction in the $460,00 – intermediate support. Ethereum key support is at $of 421.00.
The MACD on the daily chart is rising in the negative zone and confirms the previously generated buy signals. The Stochastic oscillator is rising in the positive zone and also indicates the purchase.
Among significant for Ethereum fundamental information you should pay attention to the announcement MyEtherWallet (wallet cryptocurrency) create a mobile application. Cryptocurrency on the screen of the smartphone is a new and productive step forward, which is certainly a positive for digital currencies in General and Ethereum in particular. App MEW Connect, as reported, is intended to simplify the use of the purse, and, moreover, to resolve several issues regarding security.
First, the application will be accessible without the use of a special key. Safety in this case will be provided by scan the QR-code, which will allow access to the purse. Another aspect of security – protection of information at the technical level: data encryption will be done using the tools Apple. Later, probably will be available and a mechanism to unlock your wallet with Touch ID, but so far this opportunity has not worked.
Combinations of passwords that the application will prompt you to save in a separate place to restore access to your wallet, is to duplicate – record and store outside of the smartphone. They will need it if the phone is lost and there is a need to restore applications and access the wallet.
The app, which is preparing for beta testing in iOS, may subsequently become the most user friendly cryptocurrency resource for smartphone users. This, in turn, will support himself and Ethereum.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.