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The intense volatility seen within the cryptocurrency markets demands that traders and investors stay informed at all times about the latest technical and fundamental developments, which is why PrimeXBT offers daily updates.
The Ethereum MainNet has just undergone the Muir Glacier hard fork, less than a month after its Istanbul update on Dec. 8.
The Muir Glacier update was activated at Block number 9,200,000 on Jan. 2, 2020, with only one improvement proposal, EIP 2384. The proposal aims to delay the difficulty bomb, a built-in algorithm of the Ethereum blockchain that could drastically increase the difficulty in mining a new block if left unaccounted for.
Back in November, before Istanbul took place, ETH was trading at around $180-190. After the Ice Age issue was located, the price plunged to under $120.
Ethereum’s price might continue to slide unless there is a break above the $133 resistance level. Additionally, there is a major bearish trend line forming at its resistance zone.
A clear close above the key resistance level could offer new entries for high-return gains in the near term. The next major hurdle is near the $138 level. Any further gains could start a major upwards movement to above the $140-142 resistance zone.
More importantly, there are several bullish trend lines with a volume-support zone forming near $127, and the price might continue to decline below the support in the near-term. The next support exists near the $123 level, below which it may decline towards the $117 support level.
As always, be careful and don't forget about capital & risk management.
Keep an eye out for more PrimeXBT trading signals for ETHUSD and other assets.
The intense volatility seen within the cryptocurrency markets demands that traders and investors stay informed at all times about the latest technical and fundamental developments, which is why PrimeXBT offers daily updates.
The Ethereum MainNet has just undergone the Muir Glacier hard fork, less than a month after its Istanbul update on Dec. 8.
The Muir Glacier update was activated at Block number 9,200,000 on Jan. 2, 2020, with only one improvement proposal, EIP 2384. The proposal aims to delay the difficulty bomb, a built-in algorithm of the Ethereum blockchain that could drastically increase the difficulty in mining a new block if left unaccounted for.
Back in November, before Istanbul took place, ETH was trading at around $180-190. After the Ice Age issue was located, the price plunged to under $120.
Ethereum’s price might continue to slide unless there is a break above the $133 resistance level. Additionally, there is a major bearish trend line forming at its resistance zone.
A clear close above the key resistance level could offer new entries for high-return gains in the near term. The next major hurdle is near the $138 level. Any further gains could start a major upwards movement to above the $140-142 resistance zone.
More importantly, there are several bullish trend lines with a volume-support zone forming near $127, and the price might continue to decline below the support in the near-term. The next support exists near the $123 level, below which it may decline towards the $117 support level.
- Support Zone: $130-126.85
- Local Resistance Level: $133
- Major Resistance Level: $138
- Market Cap: $13 981 221 039 USD
- Volume (24h): $8 338 668 953 USD
- Circulating Supply: 108 976 307 ETH
As always, be careful and don't forget about capital & risk management.
Keep an eye out for more PrimeXBT trading signals for ETHUSD and other assets.
Trade active
Comment:
ETHUSD touched the resistance line
Trade closed: target reached
Comment:
Ethereum/Bitcoin Forming a Bullish Trend Reversal Pattern
