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ETH/USD: Ethereum ecosystem to move to 2.0 on July 30 – Vitalik Buterin

  • Ethereum 2.0 will go live at the end of July 2020.
  • ETH/USD is back on a recovery path, $200.00 is within reach.
ETH/USD: Ethereum ecosystem to move to 2.0 on July 30 – Vitalik Buterin
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Ethereum ecosystem will start the transition to a major update known as Ethereum 2.0 on July 30. The co-founder of the second-largest cryptocurrency project, Vitalik Buterin, made the announcement to that effect during 'Consensus: Distributed conference'. 

The developers' team has already launched the testnet Schlesi. Two clients – Lighthouse of Sigma Prime and Prysm of Prysmatic Labs – now operate in the testnet, while Teku and Nimbus are about to launch their validators. 

Ethereum 2.0 will bring a lot of significant changes, including the change of gas cost calculations and principles of clients’ synchronization. 

ETH/USD: Technical picture

ETH/USD climbed back above 1-hour SMA50 at $187.60 amid the resumed upside momentum. At the time of writing, ETH/USD is changing hands at $190.35. If the price moves above this local resistance area, the recovery may be extended towards $191.20 (daily SMA100) and $200.00. However, the pivotal resistance is created by the broken upside trendline at $208.00. A sustainable move above this area is needed to get the recovery back on track.

ETH/USD daily chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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