Ethereum price analysis: ETH/USD climbing towards $1,000, while hard fork is looming large

Ethereum developer wants his stolen money back one way or another.
ETH/USD is losing bullish momentum on approach to the critical resistance.

Tanya Abrosimova Independent Analyst

Ethereum may be getting closer to another hard fork as James Levy, one of EIP 867 co-authors and an early hacker victum, wants his money back to fund his new venture called TapTrust.

Levy received 40,000 ETH for smart contract development back in 2015 only to find out that his money was gone several days later. Now he wants to appeal to the hacker to return the funds or implement a software upgrade that will lead to Ethereum blockchain hard fork.

Ethereum community has already severed in two opposing camps. A lot of core developers are concerned that this proposal may kill the Ethereal philosophy and even cause a system-wide disaster.

Ethereum technical picture

Ethereum price is moving within the upside channel visible on the hourly chart. While bullish momentum is fading on approach to the critical resistance level produced by the long-term downside trendline around $900, the general sentiment remains positive as long as ETH/USD stays above 50% Fibonacci retracement level at $856.00. Once it is broken, the downside may be extended towards $805.00 (50-DMA).

ETH/USD, hourly chart