• The major update is scheduled for December 4.
  • ETH/USD has retreated from the recent high.

     
Ethereum developers will activate a major update on the Ethereum mainnet at block 9 056 000. It will be mined approximately on December 4. However, the team will postpone the fork until January 8 if something unexpected happens.

Notably, the fork on the testnet split it into two chains, but developers believe that the fork will be activated as planned. They also approved   EIP 2124 that will allow users to detect the chain supported by the majority of users.

Ethereum’s technical picture

ETH/USD topped at $199.04 during early Asian hours on Saturday and retreated to $180.30 by the time of writing. The downside correction stopped short of the critical support created by the long-term downside trendline at $180.00. Once it is out of the way, the sell-off is likely to gain traction with the next focus on$177.00. It is created by a confluence of SMA100 (Simple Moving Average) and SMA200 (four-hour chart).

On the upside, the initial resistance awaits us on approach to $190.00 (the upper line of four-hour Bollinger Band) followed by $199.00.

ETH/USD, the four-hour chart


 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC sandwiched between strong resistance and support levels

The BTC/USD bulls took back control following this Friday’s bearish correction. The price is currently consolidating inside the ascending triangle formation. The buyers must attempt to break past the downward trending line to break above the triangle. 

More Bitcoin News

Ethereum Price Analysis: ETH faces strong resistance wall at $360

Ethereum sees a steady rise in activity and market capitalization, all thanks to the ongoing DeFi boom. The coin bounced up from the $320 support line this Thursday and has gone up to $350 over three days. 

More Ethereum News

NEO Technical Analysis: A test of 200-HMA likely on NEO’s road to recovery

NEO/USD witnessed good two-way businesses on Friday, having finally settled in the red after fading a spike above the $23 mark. The buyers have regained control this Saturday, allowing a tepid bounce in the spot.

More NEO News

Ripple Price Forecast: XRP flashes sell signal in the hourly chart – Confluence Detector

XRP/USD has had three straight bullish sessions. XRP daily confluence detector shows moderate-to-strong resistance at $0.245. On the downside, there are two healthy support levels at $0.2425 and $0.24.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast

BTC

ETH

XRP