The price of Ethereum has dropped significantly in recent days. On the morning of Wednesday, July 11, the cryptocurrency is trading at USD 431,03 and continues to “sink”, according to a leading analyst RoboForex Dmitry Gurkovsky.
Hour chart trading Ethereum demonstrates that the key line “bear” trend goes on abroad $448,00 this same level is the resistance level. Easier for Ethereum resistance is at $440,00, this is confirmed by the daily schedule. Now it seems that in the event of a rise Ethereum will definitely be faced with sellers in the field of 445.00-448,00 USD.
After Ethereum broke the support at $460,00, bitcoin suffered heavy losses and nothing prevented the bears to sell. At the moment it is evident that investors are Ethereum aside $410,00. Achieving this milestone is highly likely, if the external background will not change in the near future.
Key support level for Ethereum now is at $410,00, important resistance is at $448,00. The MACD on the daily chart remain in negative territory, is moving along the signal line and maintains a sell signal. The Stochastic oscillator falls into the positive zone and confirms the sell signal.
It became known yesterday that the hacking attacks were cryptocurrency platform Bancor. The crooks broke into one of the online wallets, and stole the tokens with a total amount of 13.5 million USD. The company managed to prevent the theft of another 10 million USD. The wallets of users suffered – losses relate to the most Bancor. In total, the Bancor platform last year during the ICO has attracted almost 400 thousand tokens in the amount of 183 million USD. It appears that hacking is still the exchange caused serious damage, although damage could be significantly higher. Because of these hacking actions in the moment the value of Ethereum “fell” by nearly 7% in the beginning of the week.
Another interesting for Ethereum fundamental information for the willingness to yield products called Plasma. This was announced by the Ethereum founder Vitalik Buterin on Twitter. We are talking about three projects that are nearing completion. In fact, it comes to a new Protocol that modernizes the Ethereum network. However, the project is multifunctional and can be used in other directions.
First of all, owners and users of Ethereum interested in the aspect of scalability. The cryptocurrency network, which the first will solve this problem and show sharp increase in the rate of transactions through the use of advanced technologies will be most in demand. This project will be major banks and global providers of payments format – VISA, for example.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.