ETHUSD (Ethereum) – Week 13 – Waiting for a setup
Staked, a blockchain node provider, has unveiled a new Ethereum staking trust in order to draw larger bag holders to the new financial world. It launched a new ETH Trust targeted at accredited investors in the United States. The new product's minimum subscription is $25,000 a year. At current rates of just over $1,600, this equates to 15.5 ETH. A 12-month lockup period is also in place.
Also, a big development was that Sigma Prime, a blockchain security company, has revealed the first transaction between the two Ethereum networks. In a tweet dated March 25, it reported that the transaction was completed by its Lighthouse client using only Proof of Stake validators. It went on to say that this was a step toward reducing Ethereum's energy demand by 99.98 percent, based on estimates comparing the new Proof of Work Eth1 with the even more effective Proof of Stake Eth2.
Chart wise, the price of ETH is “trapped” between the support and the resistance area. The price is now consolidating and the higher probability move is to the upside. If the price breaks the red trendline convincingly, it will go to the upside. However, although its a lower probability move, we could reach the trendline and head down to the support at $1300.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Also, a big development was that Sigma Prime, a blockchain security company, has revealed the first transaction between the two Ethereum networks. In a tweet dated March 25, it reported that the transaction was completed by its Lighthouse client using only Proof of Stake validators. It went on to say that this was a step toward reducing Ethereum's energy demand by 99.98 percent, based on estimates comparing the new Proof of Work Eth1 with the even more effective Proof of Stake Eth2.
Chart wise, the price of ETH is “trapped” between the support and the resistance area. The price is now consolidating and the higher probability move is to the upside. If the price breaks the red trendline convincingly, it will go to the upside. However, although its a lower probability move, we could reach the trendline and head down to the support at $1300.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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