- Geth and Parity released new versions of their software as the network upgrade is delayed.
- ETH/USD sits at the critical technical level.
The largest Ethereum network clients, including Go-Ethereum (Geth) and Parity, issued updates for their software even though a major Constantinople upgrade was postponed for an indefinite time due to the revealed vulnerability. The new releases were necessary to prevent a hard fork that was supposed to take place at Block 7,080,000, approximately between January 16 and January 17.
Thus, Geth developers released an emergency patch (version 1.8.21), while Parity client was upgraded to beta 2.3.0.
"Parity Ethereum new versions 2.2.7-stable and 2.3.0-beta support the Constantinople postponement,» they said in their tweet.
Meanwhile, both Geth and Parity users can continue using the current versions, provided that they adjust configurations.
Ethereum is changing hands at $122.25, off the recent low of $120.06 reached during early Asian hours. The digital asset now ranks as the third largest coin with a market value of $12.8B.
Looking technically, ETH/USD sits at 50% Fibo retracement level for the upside move from 2018 low at $82.02. If the downside pressure intensifies, the next bearish target of $114.61 (currently, the lowest level of 2019).
On the upside, we need to see a sustainable recovery above $130.00 (SMA50, 4-hour chart) for a chance to proceed towards $132.30 (38.2% Fibo retracement) and ultimately to $140.0
BEST BROKERS TO TRADE CRYPTO
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.