Ethereum (ETH) Price Tepid As Developers Prepare For Beacon Chain

Ethereum (ETH) range bound below $300
Path to Serenity on course, Phase Zero set for early Jan 2020

Prospects of a scalable system incorporating proof of stake algorithm with Sharding could see ETH prices surge. After Serenity, Ethereum will be scalable. That alone is enough to lift prices to $400 or higher in coming days.

Ethereum Price Analysis

Fundamentals

There is a ray of hope as far as Ethereum 2.0 progress is concerned. Launching of Phase Zero of the Beacon Chain will be on Jan 3, 2020. To expound more, Beacon Chain will manage Caspers Proof of Stake for itself and its shards. Its roughly six months from now.

However, the community is ecstatic about what Serenity will bring about. As laid out before, Serenity will not be a one-off upgrade. Instead, it will be rolled out in phases. Therefore, the mentioning of a feasible date is good progress from a development point of view.

In the road to a more resilient, decentralized and public blockchain with proof of work and Sharding, Serenity, according to Ethereum researcher Danny Ryan, will be more secure and robust.

Eventual activation will see the ease of use by eliminating complexities while simultaneously improving decentralization in that a typical consumer laptop with O(C) resources to process/validate O (1) shards. Even so, Ryan said the date is tentative as the exact time depends on tests:

Although it is feasible, the client teams are not yet ready to commit to a date, especially considering we havent entered into multi-client testnets yet. With each phase of development, there are plenty of unknowns so we will keep tackling them as they come.

Candlestick Arrangement

At the time of press, ETH is steady. However, it is lagging in performance, trailing BTC. Nonetheless, previous ETH/USD trade plans hold. Visible from the chart, ETH prices are ranging within a $60 zone with floors at $230.

Unless otherwise, prices rally past $290 and most importantly $300 complete with above average volumes, caution should prevail. Because of this, aggressive traders have a chance to buy the dips. However, conservative traders can wait for clear cut breaks above $290 as bulls step up with targets at $400.

Conversely, losses below this $60 trade range as ETH slide below $230 could see prices drop to $170 in a retest.

Technical Indicators

From above, the May 30 bar leads this trade plan. It is extensive with high participation. Any breakout below $290 or $230 with high trade volumes surpassing 410k will confirm or nullify this trade plan.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

The post Ethereum (ETH) Price Tepid As Developers Prepare For Beacon Chain appeared first on NewsBTC.

20.06.2019 / 11:50 43
Prysmatic Labs Launches Ethereum 2.0 Proof of Stake TestNet Prysmatic Labs Launches Ethereum 2.0
Prysmatic Labs co-founder Preston Van Loon announced the launch of an Ethereum 2.0 Proof of Stake (PoS) blockchain Testnet on May 7. While the full
Ethereum (ETH) Decoupling, Project Has More Monthly Active Developers Ethereum (ETH) Decoupling, Project Has
Ethereum (ETH) up 5.3 percent Monthly active developers in Ethereum high at 216 On average there are 216 monthly active developers working on
Ethereum Development Keeps Pace With Crypto Boom: Proof of Stake Is On Its Way Ethereum Development Keeps Pace With
As the price of Bitcoin (BTC) and other crypto assets have boomed, so have the underlying fundamentals of this embryonic space. Reports have revealed
Ethereum (ETH) Under Pressure despite Vitalik Updates Ethereum (ETH) Under Pressure despite
Ethereum prices steady below $170 A large team working towards Ethereum 2.0, Vitalik updates Vitalik is confident that Ethereum 2.0a state of
Ethereum Developer: Serenity Is Moving Really Fast, Sharding By 2020 Ethereum Developer: Serenity Is Moving
Ethereums Scaling Qualms Ethereum, officially launched in 2015, was first lauded as a decentralized, open-source, and public platform that would
Ethereum Creator Says Sharding is Coming, Significant Improvement in Scaling Ethereum Creator Says Sharding is
Ethereum creator Vitalik Buterin has announced that Sharding, a much awaited scaling solution for the Ethereum blockchain protocol, is coming. [h2]
Comments (0)
Add a comment
Comment on