Tanya Abrosimova
Independent Analyst
- Ethereum developer believes that Ethereum 2.0 can be launched in 2020.
- ETH/USD may reach 3.0 if it settles above weekly SMA200.
Afri Schoedon, the pioneer of ETH2 multi-client testnets and an active member of the Ethereum community, believes that Ethereum 2.0 may be launched in 2020 provided that no critical bugs are found. He shared his views in the recent interview with Paradigm an investment firm focused on the blockchain industry.
The Ethereum 2.0 beacon chain will launch in November unless we find severe bugs in clients or protocol. I’m in-between Vitalk and Justin with my estimation here, I don’t think that we necessarily need to delay Ethereum 2.0 into 2021 unless we find critical issues. We are well on track for a late 2020 launch, he said.
According to Schoedon, official multi-client testnet Medalla will be launched soon, creating the final blocks necessary for activating ETH2 this year.
ETH/USD: Technical picture
At the time of writing, ETH/USD is changing hands at $265.00. The coin has gained nearly 9% on a day-to-day basis and stayed mostly unchanged since the beginning of the day. As the FXstreet previously reported, a sharp move above $260.00 created strong bullish momentum and pushed ETH/USD to $270.00. The price moved above 200-week SMA for the first time since the beginning of March. If the price settles above this technical barrier, the bullish impulse may take the price towards $300.00 in the foreseeable future.
ETH/USD weekly chart
-637311055132619921.png)
On the daily chart, ETH/USD is supported by the upper line of the daily Bollinger Band located on approach to $260.00. This former resistance now serves as a strong support, which means the bearish pressure may slow down here. If it is broken, the sell-off may be extended towards $236.00 (channel support created by 50-day SMA and the middle line of the daily Bollinger Band). This development will negate the bullish scenario and bring bears back to the market.
ETH/USD daily chart
-637311055352454092.png)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AAVE proposes a slew of upgrades and expansions in plan for 2030
Aave has proposed a Unified Liquidity Layer, V4, and solutions to enhance and compete with zero-knowledge networks in its plan for 2030 and beyond. The proposal states that Aave aims to implement its plan together with the community within the next three years.
Top 3 meme coins Dogecoin, Shiba Inu and Bonk: Recovery likely if Bitcoin freefall ends
Meme coins Dogecoin (DOGE), Shiba Inu (SHIB) and Bonk (BONK) look primed for recovery, according to technical indicators, despite the broader crypto market correction prompted by the sharp drop in Bitcoin (BTC) price.
XRP tests $0.52 resistance while XRP Ledger developers propose lending protocol on the blockchain
Ripple has failed to close above $0.52 for five consecutive days, struggling with the sticky resistance. XRP holders digested the news of US Securities and Exchange Commission’s response to Ripple in its filing that addressed the issue of “expert testimony.”
Pepe whales buying spree could trigger 55% rally Premium
Pepe price shows signs of a potential comeback as it retest the a declining resistance level. A successful breakout could kick-start a 56% move to the upside as whales continue to accumulate on dips.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.