Ethereum is still «in limbo»

Ethereum is reduced. On the morning of Thursday, August 30, the value of the virtual currency is USD 284,47, the loss is estimated at 1.5%. The price continues to retreat after the breakdown of the $298,30 and $294,00 informed that “pulled” the gap “bullish” trend, says Dmitry Gurkovsky, senior analyst at RoboForex.

The market tried to buy Ethereum, but towards evening it became clear that the preponderance of forces on the side of “bears”. Ethereum has retreated to the support level of $290,00 after successive breakdown $298,30 $294,00. Moreover – today bitcoin went under $of 285.00, but even before the good customers bought this “slide”.

At the moment, is to observe the region of $283,00-284,00. If “bears” manage to “push” it down, the new interim support will arise only from $280,00. It is possible that in the short term, Ethereum will remain in the range of $280,00-283,00 if there is no reason “boldly” to redeem these sales.

Major support for the virtual currency, therefore, is around $280,00. Significant resistance is at $295,00. The MACD on the daily chart is barely noticeable growing up but still is in the negative zone and is not giving a clear signal. The Stochastic oscillator showed a local decrease in the positive zone, making a buy signal is weaker than before.

Among the interesting for Ethereum fundamental news worth noting information about the release of the National research Institute of Canada (NRC), a new browser blocks of Ethereum. The application is easy to search for and store various information. The users working with it can search data, including published and grants.

The idea is to demonstrate the possibilities of applications based on blockchain technology. If the work is convenient and effective, other government agencies will be able to learn from this experience. Among the positive aspects, important for any organization to run applications by optimizing or storage of information is minimal risk of external attacks. It cannot be excluded that in the future this will become a decisive argument in favor of the blockchain.

Despite the decline in Ethereum lately, his production remains one of the most promising. So says the founder of Atlantic Crypto, Mr. Ventura (Brian Venturo). Production of one unit of Ethereum is estimated at 152 million, which almost twice below the market value of the cryptocurrency.

Venture is based on the price of electricity in residential buildings of the United States and several other countries, although it is recognized that the difference in cost kWh may vary considerably depending on the country. In some cases (when the low cost electric energy) the price of production Ethereum can be no more than 50 USD, and miners willing to move to the regions with such favourable conditions.

In the near future is to carefully observe the news concerning Ethereum. August 31 will host a meeting of developers where you will discuss the issues of inflation cryptocurrency and amount of remuneration for the units. Previously, the holders of the coins were for low rewards per block to 1 ETH from the current level of 3 ETH.


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.


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