Ethereum price analysis: ETH/USD stays above 100-SMA; Ethereum developers close security black hole
|- Ethereum developers fixed "eclipse attack" flaw.
- Ethereum climbed above 50% Fibo, but bullish momentum is weak.
ETH/USD is locked in a tight range, though the coin managed to climb above the long-term downside trendline, which is a bullish sign that needs further confirmation. If compared to Bitcoin, Ethereum is underperforming grossly, as it has lost 0.24% during the week, while the competing coin gained over 12% for the same period.
Meanwhile, quarrels about EIP 867 protocol are not the only thing Ethereum developers indulge themselves with. According to the latest news report, they released the patch that closes a severe security vulnerability that allowed Internet users easily manipulate the access to the publicly accessible ledger.
The vulnerability is known as “eclipse attacks”; it prevents a cryptocurrency user from connecting to honest peers. According to Bleepingcomputer, eclipse attacks are possible even on Bitcoin network, though Ethereum architecture makes them easier on ETH blockchain.
Ethereum technical picture
Ethereum price stays above both 100-SMA and 50-SMA on the hourly chart ($860.00 and $857.00 respectively). While the general sentiment remains positive as long as ETH/USD stays above 50% Fibonacci retracement level at $856.00, the bullish momentum is fading as the price failed to get to $870.00 resistance.
ETH/USD, the hourly chart
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