Ethereum restores the position – analysis of the course may 30 and forecasts
After a two-week fall course Ethereum begins to grow again. During the day, it rose by 8%, and experts predict that the cryptocurrency market will continue to strengthen its position.
After the collapse of the exchange ratecaused by the massive selling of tokens, Ethereum has started to show positive momentum. Many have accused the sale of the creators of a competing project EOS, which are both sold large amounts of ETH (1.3 million). Experts say that while the Ethereum network is quite competitive, the platform has created hundreds of new applications and tokens.
Serious level of resistance is $580. If bitcoin will be able to break through, she will be able to resume growth to $600and then to $640. The RSI has not yet entered the overbought zone, so the bulls could resume control of the market. MACD indicates the probability of further sales, if you’re going to see some sort of news that might affect the rate of the ether. The 100-day moving average is below the 200-day, the gap between them increases. Indicator Ichimoku indicates that while Ethereum is trading in a descending channel and cannot break through – trade is conducted near the lower limit of the cloud. Market capitalization of crypto-currencies is $57 billion.
Previously on this topic in the news:
15.05.2018: Competitors Ethereum strengthen the position: the rating of promising altcoins
The Ethereum platform is considered a pioneer in the field of smart contracts. Due to security issues and vulnerabilities discovered for this technology have been taken for granted. However, there are other projects that improved smart contacts, and are considered very promising for the cryptocurrency market.
The most promising altcoins
- Zilliqa (ZIL). This project not only proposes to use platform with smart contracts, but also solves the problem of network scalability. The creators of Ethereum this purpose introduce the technology of sharding. Since the advent of cryptocurrency ZIL is well regarded in the markets. Just a month ago for the token gave $0,038, now it is estimated at $0,163. The digital asset is on the 25th place in terms of market capitalization.
- EOS (EOS). This cryptocurrency is also considered to be a promising competitor to Ethereum, not only in terms of smart contracts and market capitalization. Digital currency is in 5th place, pushing nearest rival Litecoin. Investors intensified amid on the output of the software for blockchain-based platform, which is scheduled for early June.
- IOS token (IOST). Little known and underappreciated token. Also offers a platform for smart contracts to develop applications. However, it also gives developers the opportunity to work not only on PCs but also on your smartphone. The project IOST defines itself as an Internet service offering a secure and scalable infrastructure for providers of online services with large bandwidth. Located on the 47th place in the ranking of the market capitalization.
Ether, of course, is considered the founder of this technology, but other altcoins literally breathe him in the back and continue to increase the volume. View, for whom the future!
30.04.2018: Ethereum will grow! By 2018, it may cost $2500 – analysis and forecasts
The dynamics of the course Ethereum maintains an upward orientation. Moving averages are 12, 24 and 48 hours indicate continuation of the bullish trend. Cryptocurrency is committed to $710,00.
Quotes cryptocurrency above the moving average, so the bearish trend is out of the question. Before you can rise to the level of $710,00, ether roll back to the nearest support level of $640. Indicator Ichimoku indicates upward movement. Index RSI still indicates overbought (58%), but to a lesser extent, because of the intensive growth of altcoins, many traders closed positions before the market correction. Market capitalization is 67,4 billion. The most up to date information on currency exchange rates here.
Independent consulting firm deVere Group has predicted that by the end of 2018, the value of Ethereum will rise to $2500. Experts attribute this rise in investor interest in digital assets and popularization of the technology of smart contracts. Nigel green, CEO deVere Group also believes that the regulation of cryptocurrencies – a matter of time, then they will be more secure and attractive for investment. In the past, green has already made a prediction for bitcoin in 2017 – then he stressed that the growth of cryptocurrencies was too fast, and now will begin a serious correction.
26.04.2018: the Developers of Ethereum offer antimeningitis upgrade network
The developers of Ethereum published offer Ethereum Improvement Proposal No. 1011 to improve the network and care from cryptocurrency mining. The team proposed to implement an online updating Hybrid Casper, which will bring together Proof-of-Work(PoW) Proof-of-Stake (PoS), making possible the transition of a system on the PoS.
Update Hybrid Casper is considered the most significant network change. One of the upgrade options will be reducing the block reward for miners: 3 ETH 0.6 ETH. At the same time the system will be unavailable for ASIC-hardware – Creator of Ethereum is opposed to this method of “extraction”.
The developers explain the transition of the network to the PoS system a necessity – such a possibility had been previously envisaged in the road map. The team commented: “Problems with equal access to equipment for mining, the rapid development of the market for ASICS, the centralization of pools is motivated to make changes in the operation of the network in the near future”.
PoW algorithm used in Bitcoin network. Miners have to compete with each other for the confirmation of the transaction and the reward for adding a new unit. The technology of PoS appeared in 2012, its creators , Sunny king and Scott Nadal wanted to solve the problem of verification of transactions and to reduce the consumption of energy in mining.
After the statement Bitmain about the imminent release of the ASIC-miner for Ethereum, the developers even considered the possibility of hard forks. In the end, it was decided to concentrate efforts on upgrading Casper.