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Ethereum News

Ethereum Clocks A 10-Month High After Surpassing $300

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The price of Ethereum is viral in the coming altcoin news for surpassing the $300 mark today and hitting ten-month highs. The world’s second largest cryptocurrency by market capitalization managed to climb above the psychological hurdle at 01:10 UTC, extending its gains. As Ethereum clocks a new all time high at $317, we can confidently say that that is a level that was last seen in August 2018.

As we are writing, ETH is changing hands at $304 and rising by 9.7% in the past 24 hours. The yearly gains as Ethereum clocks a new high, are at 129% which is a solid increase as the Bitcoin and altcoin news website CoinMarketCap shows.

Right now, Ethereum looks like it more than just doubled this year. Its price is currently set at $317, which is a new high and more than 270% gains on the low that ETH saw at $82 in December last year. The price, however, is still 78% down from the record highs of $1,431 registered in January 2018.

Furthermore, the cryptocurrency managed to retrace a 16% of the sell-off from $1,431 to $82. As Ethereum clocks new highs, the latest cryptocurrency news also feature Bitcoin (BTC) and its retracement of more than 40% of the bear market slide, currently trading at a 15 month high of $10,800.

As we look forward, it seems like Ethereum highs are coming and are more visible on the horizon. The ongoing rally while Ethereum clocks $318 and the technical charts are all biased bullish.

Right now, the 50- and 100-candle price averages on the three day chart produced a bullish crossover for the first time in two years. It is worth noting that the prices had rallied by more than 900% in three months following the confirmation of the bull cross in May 2017.

So, if history guides us, we can see that Ethereum is set to challenge the April 2018 low of $364 in the next couple of months. A break higher than this would expose its resistance at $401. Supporting the bullish case are many analysts who thing that the ETH volumes are rising – both in terms of price as well as in terms of them on decentralized applications (Dapps). As Diar reported in April, there were record highs in this number.

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Ethereum News

ETH Price Is Consolidating, Forming An Ascending Channel Above $180

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ETH price is consolidating for a long time now trying to go past the $180 level against the US dollar and the price could start a strong upward movement above the $190 as we are reading further in the ETH news below.There is a short-term ascending channel forming strong support near the $186 on the hourly chart of the pair while Bitcoin is still capped by the $8,880 and $8,960 resistance level. Ethereum’s price is trading on a broad range against the US dollar and bitcoin so the price will remain slightly above the $178 support and it could even soon make a huge upward move.Over the past few days, ETH price is consolidating in a broad range and the bears made a few attempts to push the price below the $180 support levels but they didn’t manage to do that. Similarly, there was no upside break above the $188 and $190 resistance level and the rice is now revisiting the $182 support area and even start a fresh increase. It also broke the $185 resistance and the 100 hourly simple moving average.There was also a spike above the $188 resistance level but Ethereum failed to surpass the $190 resistance area and is now trying to correct the recent gains. It is now trading below the 23.6% Fib retracement level from the upward movement to the $182 low to the $190 high. Right now, the price is getting close to the $186 level and the 100 hourly simple moving average and the short-term ascending channel forming to the near support level of $186 on the hourly chart of the pair. The 50% Fib retracement level of the upward move from the $182 low to the $190 high is below the channel support so the price could even find support to the $185 and continue higher.On the upside level, the $188 and $190 levels are very important for the bulls so a successful close above the $190 level is much needed for a further bullish continuation. The next key resistance is getting close to the $200 level. The price could even break the channel support and decline to the $185 level so the price is likely to revisit the range support area to the $182 level. Looking at the charts, the ETH price is stuck in the range above $182 and $180 support levels.
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Ethereum News

Long Consolidation Could Trigger ETH To Break Higher: Analysis

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long consolidation
The latest Ethereum price news show that ETH seems to be consolidating for quite some time now and is above the $180 level against the US dollar. However, analysts believe that the price could start a strong upward move above $190 soon as long as it is in this area. It is the long consolidation level which could trigger Ethereum (ETH) to trade in a broad range above the $180 support against the USD.There is also a short term ascending channel that is forming with support near $186 on the hourly chart of ETH/USD as data from Kraken shows. ETH bears have made a few attempts to push the price below the $180 and $178 levels but they failed. Similarly, there was no upside break above the $188 and $190 resistance.Recently, the price of ETH revisited the $182 support area and started a fresh increase. This is how it broke the $185 resistance and the 100 hourly simple moving average. Moreover, we could also see a spike above the $188 resistance.Still, the long consolidation made Ethereum fail to surpass its psychological $190 resistance area and is right now correcting the recent gains. The price of Etehereum right now is $187.27 with a minimal decline on the day.Despite the red position, Ethereum looks good in the momentum analysis. Analysts agree that it could form a swing high to reach $190 very soon. At the moment, the price is bullish and could find bids near $185 and continue higher.Conversely, there is also a probability for the long consolidation to extend and break the channel support, bringing the price below $185. In this mentioned case, the price is likely to revisit the range support area and stabilize around the $182 level.When looking at the chart, it is unclear whether the long consolidation period will continue. What's clear is the fact that Ethereum is stuck in a broad range above the $182 line and needs to initiate new gains in the altcoin news and rumors and position itself as a leader soon. If the bears continue to struggle near $182, we could see a strong upward move above $190 in the near term.The technical indicators for Ethereum (ETH) in the long consolidation period now are as following.
  • Hourly MACD – The MACD for ETH/USD is slowly but surely losing its momentum in the bullish zone.
  • Hourly RSI – The RSI for ETH/USD is right now declining and may approach the 50 level.
  • Major Support Level – $182
  • Major Resistance Level – $190
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Ethereum News

Ethereum Express Launches New Proof-of-Authority Consensus

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Ethereum expresses developers will now use the proof-of-authority consensus algorithm in order to allow the validators to maintain their reputation and still ensure successful throughoutput of blocks. Let’s find out more in the Ethereum news below.The blockchain technology has earned the attention of the major names in banking and IT but many other heavy industries such as Google, Facebook, IBM, and Microsoft. Many of these companies invest in the blockchain development sectors of their own decentralized solutions. Businesses are often taken as the benchmark for determining how one technology is useful but the user factor is the one that decides at the end whether a new tech will live up to the expectations.Blockchain technologies are very paradoxical since they were initially adopted by average online users rather than businesses. In the second quarter of 2019, the number of unique users that have at least one registered blockchain wallet reached up to 40 million people. This is a five-time increase compared to 2016. The upward trend proves that the interest in blockchain among ordinary users is growing despite the downtrend of prices during 2018 and 2019.During this changing market, Ethereum Express found a way to help the validators maintain their reputation. Being a specialized platform for the strong community of blockchain enthusiasts, it will offer the users a chance of becoming a part of a new generation of a crypto ecosystem with ease and full transparency of all of the operations. For this purpose, the Ethereum Express project develops the tools that will allow the users to generate income without the need to have expensive mining equipment.The platform is built on the Ethereum blockchain which has been hailed as a major tech revolution in trust management. Given that the bandwidth of the Ethereum blockchain cannot exceed 15 transactions per second, the Ethereum Express developers build another blockchain that operates on the basis of the EEX Coin which is later used for facilitating connections between the world of gaming and mining thus creating a backup global cryptocurrency.Ethereum Express offers a number of advantages for businesses despite the fact that the system is still under development.
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Ethereum News

Ethereum Co-Founder: “We May Interoperate With China’s CBDC”

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The founder of ConsenSys, Joseph Lubin, who is also known as the Ethereum co-founder recently said that he hopes that China's Central Bank Digital Currency (CBDC) will allow for interoperability with public permissionless blockchains such as Ethereum.Lubin made the remarks in an interview with Forbes which is viral in the Ethereum news now - and was published on November 9.
“I assume it is going to be exactly what Chinese leadership thinks is most beneficial to Chinese leadership. Hopefully that’s also open and we can interoperate with it, but I don’t know," the Ethereum co-founder explained in one of this most important thoughts.
Furthermore, Lubin added that he would like to see increased participation from China in the Ethereum ecosystem. He also cited the case of the Belt and Road blockchain-based commerce platforms and noted that it uses one of the "weaker technologies" compared to the public blockchains such as Ethereum.
“I would love to help China get expert in Ethereum technology. [...] The main idea is that Ethereum is the strongest of the blockchain technologies and it’s a very positive virus to implant in people’s minds,” Lubin noted.
The Ethereum co-founder who designed the network along with Vitalik Buterin also said that he expects China to continue undermining the US dollar and its status as the world reserve currency. However, he also noted that he believes that the China CBDC national currency will only have a minor impact in this regards.
“There are lots of reasons why American influence is shrinking and will probably continue to shrink. That may not be a bad thing but in some ways, it’ll be a bad thing. China’s particular cryptocurrency I don’t think is a major factor,” the Ethereum co-founder concluded.
As a last resort, Lubin also address the willingness of China to obstruct access to digital currencies all because they will compete with its own. He explained that the government and its ability to impede access to ETH in China depends on progress in the deep packet inspection and how motivated the nation will be to this end.When asked about the China CBDC and whether he truly believes in its implementation, Lubin added:
“China is a business that writes its own rules and has an enormous customer base — 1.4 billion people. That’s a tough economic force to compete with. I do think there’s an instability. I think leaders are constantly terrified of revolution, so they have to keep the people relatively happy at some baseline level.”
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