Ethereum fought against gravity and trading using as a weapon a bullish bias above $135 versus the US dollar, similar to Bitcoin (BTC). Ethereum will likely grow above the $150 level as we are reading more in the upcoming Ethereum news.
The price of Ethereum (ETH) is now well reinforced above the $135 and $138 levels versus the USD. The price is signaling certain positive trends and it is hopeful to rise above the level of $150 in the near future. There is also certain bullish trend line forming that is important really near to the $140 level seen on the 4-hours chart of Ethereum (ETH)/ USD. Bitcoin (BTC) is also demonstrating positive signals above the $8,000 support area as per the recent news and updates.
In the last week, there was the presence of bullish moves in Ethereum (ETH) going up, above $132 versus the USD. Ethereum (ETH) rallied towards the level of $135, with later fall to lower level and finally growing above the level of $135. A new yearly high was formed near $148 after which Ethereum (ETH) started to fall. There was a certain break below the 23.6% Fib retracement level of the growing trend from the level of $135 to the level of $148.
But the fall was safeguarded by the $140 zone and the price is at this time clearly over the 100 simple moving average (4-hours). Furthermore, the 50% Fib retracement level of the growing push from the $135 low to $148 high is acting as hard support. What is even more important is the key bullish trend line that is forming with the support of a near $140 on the 4-hour chart of Ethereum (ETH)/ USD. If there is a move in downward direction beneath the trend line, below $138, there is the probability of a hard fall.
Going up, there are certain key hurdles near the $145 and $148 levels. A clear breakthrough over the level of $148 can set the tempo for a bullish breakthrough above the level of $150 in the near future. The key support on the way down is near the level of $137 and the 100 SMA. If a fall happens and breakthrough the levels of $137 and $135, Ethereum will likely have a bearish break.
Bugs Found In Ethereum-Based Smart Contracts Compiler
“After a few months of work we were skeptical that the python codebase was likely to deliver on the idea that Vyper promised. The codebase contained a significant amount of technical and architectural debt, and from our perspective it didn’t seem like the existing maintainers were focused on fixing this.”Even before this report, the Ethereum Foundation team began work on a new Vyper compiler based on the Rust language as the crypto news showed. The decision was motivated by the increased portability to EWASM, a new virtual machine implementation that replaced the EVM which is set to be introduced with Ethereum 2.0.The bugs found in the Vyper compiler were especially important due to its use in the Ethereum 2.0 deposit contract, which is a critical component of the Proof-of-Stake (PoS) system. However, the developers clarified in a Twitter thread that a separate audit was conducted for the contract which found no unfixed bugs.
ETH Bulls Hesitate But An Upsurge Above $150 Is Coming Into View
- Hourly MACD – The MACD for ETH/USD is currently gaining in the bullish zone.
- Hourly RSI – The RSI for ETH/USD is correcting lower towards the 50 level.
- Major Support Level – $142
- Major Resistance Level – $150
ETH Block Time Reduced By 25% Following Muir Glacier Hard Fork
ETH Is Very Bullish And $145 Is Imminent According To Analysts
- 4 hours MACD – The MACD for ETH/USD is gaining strength in the bullish zone.
- 4 hours RSI – The RSI for ETH/USD is currently well above the 60 level.
- Major Support Level – $125
- Major Resistance Level – $138
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