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4 key Notes as the KIN Token Migration to Bancor Finalizes

Click here to view original web page at themerkle.com
When the Kik team announcement their initial coin offering a while ago, many people had high expectations. A well-known and respected messaging service issuing its own tokens could introduce a lot more people to the cryptocurrency industry. In the next few weeks, all users must migrate their KIN tokens from Ethereum to Bancor. This move has some very interesting potential consequences.
Moving Away From Ethereum
The biggest development to take note of is how the Kik team has made it rather clear they do not want to use Ethereum’s infrastructure for their token. The decision to switch to Bancor is rather interesting, albeit not all that surprising. Numerous other projects have moved away from Ethereum in search of greener pastures. Whether or not those decisions will pan out as expected, is a very different matter altogether.
With the migration to Bancor now almost completed, one can safely say the Kin token no longer has anything to do with Ethereum come June 15. As of right now, there is still an ERC20 relay active to swap KIN to the Bancor-based token accordingly. Once fully completed, the wait begins to determine if Bancor can live up to the Kik team’s expectations in terms of sustainability and scalability.
Manually Migrating ERC20 Tokens is Pertinent
Contrary to what most users might expect, the switch from ERC20 to Bancor tokens will not occur automatically. Users are advised to either use a swap service such as CoinSwitch or Changelly, or perform this course of action through an exchange. The swap services should complete this process in 30 minutes or less, which might be the more approachable option for KIN holders.
Several exchanges have also supported this migration since March of 2019. That list includes HitBTC, CoinTiger, LAToken, and a few others. However, it seems most of the “windows” for exchanges have closed already, as this swap was announced several months ago. Using the swapping service or the ERC20 relay is still a viable option at this time. Ensuring tokens are converted sooner rather than later is the best course of action.
Finding the Right Wallet
Sorting any cryptocurrency, token, or asset is always a matter of conducting proper research. For Kin holders, moving the funds to a Bancor-based wallet can be done when using either the Ledger or Atomic Wallet, as well as the Freewallet solution. All of these platforms support the old and new token at this time, which should make it relatively easy to generate a new address to receive the correct tokens.
Another option is to use Bancor’s own Smart Wallet, which allows users to support all ERC20 and EOS tokens in existence today. By default, this also means the new Bancor-based tokens will be supported, as this integration was completed in late 2017. There are plenty of options for users to look into in this regard, albeit putting in some effort is to be expected at this time.

Boosting KIN’s Popularity on Bancor
As this token swap will enter the final stages, it is not unlikely KIN will overtake some other tokens issued on Bancor in popularity, albeit briefly. It is rather interesting to take note of how many tokens are currently running on top of Bancor’s infrastructure. This list is a lot longer than most people might assume, although it is evident Ethereum remains the undisputed leader in this regard.
Until Ethereum can successfully address the scaling concerns affecting the network, it seems likely there may be a few more migration efforts in the months and years to come. While it is a popular platform to issue ICO tokens, it seems things will get rather interesting in the coming months and years. For KIn users, not too much will change in terms of using the coin. In terms of which features and use cases may be unlocked in the future, one never knows what may come next.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
Image(s): Shutterstock.com

Academic credential verification startup TrustED taps Binance’s blockchain platform

Click here to view original web page at www.tokenpost.comMon, 27 May 2019, 11:40 am UTC
Image: Shutterstock
TrustED, an Adelaide-based academic credential verification startup, has entered into an agreement with leading cryptocurrency exchange Binance to utilize Binance Chain.
Binance Chain, Binance’s public blockchain platform, was launched in April following the public testnet phase which commenced in February 2019.
Founded in 2017, TrustEd aims to offer technology and training to educators to help them store, issue, and verify academic credentials such as diplomas and certificates using blockchain technology. The objective is to digitize credentials and thwart the creation and issuance of fraudulent and falsified documents.
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While the startup initially intended to utilize the Ethereum blockchain for its application use case, it has announced that it will use Binance Chain to realize its goal. With this, it has become one of the first startups to use Binance’s blockchain platform.
TrustEd noted that with one second block times and near-instant confirmation of transactions, Binance Chain is “poised to be a revolutionary stepping stone in the bid to bring cryptocurrencies and blockchain technology to the masses.”
"Being one of the first projects on Binance Chain is not only an honor but also a massive stepping stone for the TrustED project. With Binance technology behind us, TrustED can deliver on SLAs and security requirements necessary to make a blockchain-based academic solution enterprise-grade,” Kosta Batzavalis, TrustED CEO, said.
According to the official release, TrustED will be among the very first tokens to be launched on Binance Chain. TrustEd also plans to conduct a public token offering for its fundraising and community building efforts, which would be the first Initial Token Offering to take place with the native Binance Chain BEP2 Token standard.
"Binance Chain and the introduction of the Binance DEX enables thousands of crypto tokens and companies to utilize the technology in an efficient and effective manner,” Ted Lin, Chief Growth Officer at Binance stated. “We’re excited to have TrustED be one of the first startups to utilize Binance Chain and look forward to the growth that is to come in further bringing cryptocurrency mainstream."
Last week, Verasity, a digital currency for online video players, also partnered Binance Chain as part of its efforts to bring about a new incentivised video economy.
TrustED , an Adelaide-based academic credential verification startup, has entered into an agreement with leading cryptocurrency exchange Binance to utilize […]
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Ethereum Price Forecast: Ether Targets Additional Gains

Click here to view original web page at www.ethnews.comKey Highlights
Technically, the 2-hour chart indicators are consolidating below midlines in the bearish territory.
Ether Price Analysis (ETH)
After another rejection near the $140.00 resistance, ETH/USD declined sharply below the $136.00 and $130.00 support levels. However, the decline failed and the pair reversed most losses after trading as low as $127.55.
ETH/BTC also followed a similar structure and declined sharply after it failed to break the 0.0362BTC resistance. However, the 0.0340BTC level acted as a support and the pair rebounded nicely above 0.0350BTC and 0.0355BTC.

Let’s look at the 2-hour chart to understand the recent drop in ETH/USD. The pair fell significantly below the $136.00 and $134.00 support levels. However, it turned out to be a false break as Ether bounced back after filling stop orders.
There was a rejection candle formed with a long wick and small body from the $127.55 low. The price moved back above $136.00 and it is currently consolidating. On the upside, there is a strong resistance formed near $139.00 and a major bearish trendline, with resistance at $140.00 on the same chart.
Should Ether break the $140.00 resistance, it could start a solid upward move toward the $142.00 and $145.00 resistance levels. On the downside, the main support is at $134.00, below which the price might decline to $130.00.

Moving down to the 30-minute chart of ETH/USD, the pair clearly bounced back hard after setting a new weekly low at $127.55. It is currently trading in a range above the $135.40 support with resistance at $138.00.
Overall, the current price action is suggesting an upside break in ETH as long as the price is trading above the $134.00 support level.
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.
Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
Technically, the 2-hour chart indicators are consolidating below midlines in the bearish territory. Ether Price Analysis (ETH)
After another rejection near the $140.00 resistance , ETH/USD declined […]
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Coinomi Responds To Wallet Vulnerability Claims

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Cryptocurrency wallet provider Coinomi has responded to recent claims that the company’s wallet software sends wallet recovery seed phrases to Google’s remote spell checker servers in unencrypted text. According to Coinomi’s Medium post, the spell check requests "returned an error (code: 400) as they were flagged as ‘Bad Request’ and weren’t processed further by Google."
Exchanging a Few Words
Warith Al Maawali created the avoid-coinomi.com website after finding the alleged vulnerability in the Coinomi desktop wallet. Like other software wallets, Coinomi uses a 12-word seed phrase in the event a user needs to restore a wallet, forgets their pin, or needs to transfer funds to a new device. On his website, Maawali explains that, while restoring his Coinomi wallet on his desktop, his seed phrases were sent in "clear plain text" (unencrypted) to googleapis.com, a domain name owned by Google that acts as a spellcheck function. The feature is supposedly meant to make it easier for users to spot typos while entering in their seed phrases.
Maawali posted a video of the alleged vulnerability to the avoid-coinomi website. He claimed the bug resulted in $60,000 to $70,000 worth of cryptocurrency being stolen from his wallet by "someone from Google’s team" or whoever had access to the Google server. As for how the alleged hacker knew the 12 words were a part of a wallet recovery phrase, Maawali states: "Anyone who is involved in technology and crypto-currency knows that a [sic] 12 random English words separated by spaces will probably be a passphrase to a crypto-currency wallet!"
Maawali alerted Coinomi to the supposed bug via email on February 22. The wallet provider then published the conversation that took place between Maawali and Coinomi. In the conversation, Maawali asked that Coinomi "refund the stolen amount of coins or their value in USD and consider it as a ‘bug bounty reward’ … otherwise I have no choice other than reporting this in social media." Coinomi then asked for a video call to be held for "KYC purposes," to which Maawali replied: "Tomorrow I am going live with this as well as sending a copy to the authorities I will let the authorities and public deal with you [sic]. All I am asking to get my funds back 65k-70k or 17 BTC in value." Finally, Coinomi took to Twitter to declare that the company does not "negotiate with blackmailers."
Coinomi’s Defense
On February 27, Coinomi posted its official statement on Medium, addressing the vulnerability claim. According to Coinomi, the bug was a result of a "bad configuration option in a plug-in used in Desktop wallets only." The plug-in enabled the spellcheck function by default, and the team patched the desktop version of their wallet on February 22, the day Maawali first got in contact.
The statement also questions the validity of Maawali’s theft claims, stating that Maawali repeatedly refused to disclose his findings and that the wallet could not have been hacked for three reasons:
"Coinomi Team never had access to these seed phrases or funds. No one else except for Google could read the contents of the encrypted packets that contained the seed phrases. Google rejected these requests … as they were badly formed (didn’t contain a valid Google API key) and never actually processed them."
The statement notes that, with the patch to desktop wallets, Android and iOS users do not need to take any actions to secure their wallets, while desktop users just need to make sure they have updated to the latest patched version.
Responding to Coinomi’s Response
With Coinomi’s statement claiming outright that this issue could not have resulted in a loss of funds, MyCrypto founder and CEO Taylor Monahan took to Twitter to discuss the kind of language and tone used by Coinomi. In a series of tweets, Monahan criticized Coinomi’s deflection of the claims made against its wallet software and its treatment of bug reporters. Eventually, MyCrypto posted its own statement on Medium, outlining positive and helpful steps to take in the event of a security incident.
Nicholas Ruggieri studied English with an emphasis in creative writing at the University of Nevada, Reno. When he’s not quoting Vines at anyone who’s willing to listen, you’ll find him listening to too many podcasts, reading too many books, and crocheting too many sweaters for his dogs, RT and Peterman.
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All Details About Trade Ethereum

Click here to view original web page at thefrisky.com
The Ethereum venture is a push to democratize the web by making a world PC. It looks to supplant the old model of servers facilitating information with another methodology – ‘hubs’ given by volunteers. The makers of Ethereum are trying to present an elective model for information and applications that aren’t subject to enormous innovation organizations.
Trade Ethereum is utilized to pay for the exchanges that happen on the Ethereum arrange. Its main role is compensated the diggers who are handling the information exchanges on the Ethereum organize.
Source: Hacked
Trade Ethereum, you shouldn’t take a shot at the Ethereum organize. Ethereum has a true incentive in cash, which will go here and there after some time. Exploit both the ascents and the down in the Ethereum cost. Exchange Ethereum with just a little starting venture. Ethereum can be exchanged nonstop, as it doesn’t rely upon a specific market being open. Notwithstanding, that utilizing influence to exchange Ethereum implies you will be progressively presented to changes in the cost. Ensure that you keep stop misfortunes set up to secure yourself against sudden value inversions and you know about what your all out introduction to the Ethereum cost is.
Source: Smartereum
Ethereum is an unstable market and despite the fact that this presents open doors for dealers it can likewise speak to dangers. Both purchasing and exchanging Ethereum includes hazard.
Ethereum has high unpredictability and sharp value variances are exceptionally likely utilized exchanging can amplify both your benefits and misfortunes.
There is in fact a boundless supply of Ethereum. While 60 million Ethereum ‘coins’ were issued as a component of the Ethereum swarm financing effort in 2014, roughly 18 million new coins are mined each year. Likewise with different Cryptos, comprehend that the ‘rules’ influencing the way Ethereum is mined and handled can be changed all of a sudden, and this can highly affect the cost, for better or in negative ways.
Source: Draglet.com
If the present cryptographic money parts into two, new digital forms of money are made, this is known as a hard fork. We will, for the most part, pursue the digital money that has the lion’s share agreement of cryptographic money clients and will thusly utilize this as the reason at our costs. Likewise, we will likewise consider the methodology received by the trades we manage, which will help decide the move we make. As the hard fork results in second digital money, we claim all authority to make an equal position on customer records to mirror this. In any case, this move is made at our total caution, and we have no commitment to do as such. In the event that the second digital currency is tradeable on real trades, which might incorporate the trades we manage, we may speak to that esteem, however, have no commitment to do as such. We may do this by making the item accessible to close dependent on the valuation, or by booking a money modification on customer accounts.
Source: AMBCrypto

Ethereum (ETH) Foundation Refutes Plans to Invest $15M on the Development of Verifiable Delay Functions

Click here to view original web page at smartereum.com
The Ethereum Foundation recently denied its plans to invest $15 million to develop VDFs (Verifiable Delay Functions) for use in its migration to a Proof of Stake consensus protocol. Justin Drake – Ethereum Foundation researcher – made the clarification in private correspondence with Cointelegraph on the 8th of February.
According to a report from CoinDesk – a digital currency news outlet – Ethereum Foundation was purportedly considering spending $15 million in the development of the technology, given its prospective benefit form the future transition of Ethereum to a Proof of State network.
However, in an email, Drake told Cointelegraph that: “The Ethereum Foundation (EF) is not looking to invest $15 million. We are looking to split funds 50/50 with Filecoin or other financial partners.”
What are Verifiable Delay Functions?
VDFs, which his short for Verifiable Delay Functions, are a type of technology that basically protects systems that depend on the generation of (pseudo) random values form attacks or manipulation strategies. When it comes to a blockchain that uses a Proof of Stake consensus protocol, functions such as Verifiable Delays Functions can come in very handy.
They can be very important in order to prevent the possibility that the participant of a network may influence or predict randomness in order to manipulate which validators or leader will be elected via the protocol. According to the report, the migration to the Proof of Stake protocol is expected to be completed with the final upgrade of the Ethereum network.
The final upgrade of the network is known as Ethereum 2.0 or Serenity. This upgrade will be the last in the array of four upgrades set out in the roadmap of the blockchain network. At the time of writing, the Ethereum network is in its third stage (Metropolis). This stage comprises of two system-wide hard forks – Constantinople and Byzantium. Both of them are aimed at paving the way for Ethereum 2.0 or Serenity.
The Delay in the Launch of Constantinople
Constantinople was initially scheduled to be launched last year. Unfortunately, the Core Dev team of Ethereum wasn’t able to activate the upgrade last year. They were not able to activate Constantinople last year because they ran into some issues when testing the upgrade. The Dev team later shifted the launch to December, which wasn’t also realistic.
In December, they came to an agreement that the upgrade would go live in January 2019. Unfortunately, January wasn’t still favorable for the upgrade. The team has now pick February for the upgrade, and many are hoping that the upgrade will finally go live this month.
Eventually, through the Proof of Stake consensus algorithm and an array of other technical upgrades, Ethereum 2.0 is expected to tackle basic questions such as mining centralization, security, economic finality, and scalability. At the beginning of this month, the Dev team of Ethereum launched its first pre-release for phase zero of the transition of the network to Serenity, which Vitalik Buterin said was basically feature complete for Casper.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, Ethereum (ETH) is trading at $119 after an increase of about 10 percent over the past twenty-four hours. The current market cap of the digital currency is $12.51 billion and its trading volume over the past twenty-four hours is $3.32 billion.

Ethereum Update Launch Zero Stage Distracted The Market From More Important Updates

Click here to view original web page at icobrothers.media
The analysts believe that regardless the hype around Constantinople and Serenity, Ethereum 1.x update planned at June is less promising from the point of view of ETH price growth.
Ethereum team launched a zero stage of switching to the new proof-of-stake algorithm – Serenity – within the framework of preparation for hardfork. Constantinople update is planned to be launched on February, 27th. The developers published an announcement in GitHub project’s repository on GitHub adding that this is the first update from the series of weekly updates planned at February, 2019.
Regardless to the fact that this is just a pre-release version of zero stage upgrade, it is close to the final one and the algorithm stabilizes constantly. Ethereum founder Vitalik Buterin explained that “0.1 version” is a full-fledged implementation of Casper FFG. It is about hybrid consensus algorithm (PoW-PoS), ensuring increased level of network security and scalability.
In addition to the launch of a new Ethereum test net «Gorli» which uses proof-of-authority algorithm and which is designed for testing of the key Serinity client called Prysm, the latest project’s updates drew attention of the entire industry – sometimes, in the prejudice of other projects which are also promising, reports Cointelegraph.
According to the recent report of Cumberland Research trading company, Constantinople hardfork which includes particular offers on Ethereum network improvement should pave the way towards Ethereum 2.0, which will become the final version of the system. Ethereum 2.0 will switch ETH from the current PoW algorithm to more effective PoS. However, as the report authors highlight, Ethereum network can’t support millions of dApps at the moment and that Ethereum virtual machine has inflexible architecture. Delay in switching from ETH to full PoS just worsens the situation. It is also highlighted that the update was postponed several times because of vulnerability reveal or network instability.
The researchers claim that an alternative Ethereum 1.x improvement plan the launch of which is planned at June, 1, 2019, may solve the issues mentioned above. In particular, Eth 1.x offer is supposed to eliminate the main risk factors in the network, such as smart contract use and growing volume of blockchain. Regardless to the fact that Ethereum 1.x is at pre-EIP stage, the analysts believe that the offer is underestimated and it lives in the shadow of the current updates, while it’s more valuable for mid-term price forecast than Constantinople or Serenityб regardless to the fact that it is more complicated for implementation and simulation in terms of technology.
To recap, initially, Constantinople hardfork should have take place on January, 17th, however, the developers had to drops the plans in a couple of days before this date came because of revealed vulnerability allowing to make double-spend attack. The code’s bug would allow the hackers to steal crypto currency using network smart contract, with the help of repeated request for money, providing fake data on actual ETH balance of the scammer at the same time.

Ethereum Price Forecast: Ether Gaining Upward Traction

Click here to view original web page at www.ethnews.comKey Highlights
Technically, the hourly chart indicators are currently consolidating in the overbought zone.
Ether Price Analysis (ETH)
Yesterday, we saw a convincing bullish break in ETH/USD above the $110.00 resistance area. Later, the pair gained bullish momentum and traded above the $115.00 and $120.00 resistance levels.
ETH/BTC also surged higher and broke the 0.0315BTC and 0.0320BTC resistance levels. The pair is currently trading well above the 0.0325BTC level, with immediate resistances at 0.0328BTC and 0.0330BTC.

The hourly chart of ETH/USD suggests a massive upward move above the $110.00 and $115.00 resistance levels. It traded above the $120.00 level and formed a new weekly high at $123.15. Later, the pair started consolidating gains and corrected below the $121.00 and $120.00 levels.
Ether tested the $118.00 support and the 23.6 percent Fibonacci retracement level of the recent upward move from the $101.40 low to $123.15 high. More importantly, there is a consolidation pattern formed, with resistance at $120.20 on the same chart.
A successful close above the $120.00 and $122.00 resistance levels could open the doors for further gains toward the $125.00 and $130.00 levels in the near term.

Moving up to the 6-hour chart of ETH/USD, the pair formed a large green candle above the $110.00 resistance. There are many bullish signs visible on the chart, suggesting a positive change in the market sentiment above $115.00.
In the short term, there could be range moves or a downside correction toward the $118.00 or $115.00 support levels. However, Ether’s price is likely to remain well supported as long as it stays above the $110.00 pivot level.
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.
Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
Technically, the hourly chart indicators are currently consolidating in the overbought zone. Ether Price Analysis (ETH)
Yesterday, we saw a convincing bullish break in ETH/USD above the […]
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Ethereum Price Forecast: Ether’s Bullish Break Looks Real

Click here to view original web page at www.ethnews.comKey Highlights
Ether’s price formed a strong support at $102.00 and bounced back against the US dollar.
Technically, the 6-hour chart indicators reached midlines in bearish territory.
Ether Price Analysis (ETH)
Yesterday, there was a short-term rebound above the $105.00 level in ETH/USD. The pair struggled to break the $106.00 resistance zone, but buyers later gained upward traction and pushed Ether above $106.00 and $108.00.
Similarly, there was a strong upward move in ETH/BTC above the 0.0310BTC and 0.0312BTC resistance levels. The pair even broke the 0.0315BTC resistance, opening the doors for a run toward the 0.0320BTC resistance.

Looking at the 6-hour chart of ETH/USD, it seems like there is a double-bottom pattern forming near the $101.00-102.00 support area. Ether bounced back nicely from the $101.40 low and broke the $105.00-106.00 resistance zone.
The price also surpassed a crucial bearish trendline, with resistance at $106.00. However, a daily close above $106.00 is a must to set the pace for more gains in the coming sessions. An immediate resistance is near $110.00-110.00, above which the price could accelerate toward the $120.00 resistance.

Moving down to the 2-hour chart of ETH/USD, there was a clear break above the $106.00 resistance and two bearish trendlines. The pair even broke the $108.00 resistance and the 61.8 percent Fibonacci retracement level of the drop from the $111.47 high to $101.40 low.
The current price action is bullish on the 2-hour chart, with support at $108.00 and $106.00. To the topside, a successful break above the $111.47 high will most likely boost market sentiment and could open the doors for further upsides toward $115.00 and $120.00. In case of a downside correction, buyers are likely to defend the $106.00 support (the previous resistance).
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.
Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
Ether’s price formed a strong support at $102.00 and bounced back against the US dollar.
Technically, the 6-hour chart indicators reached midlines in bearish territory. Ether Price […]
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Ethereum Price Forecast: Ether Climbing Toward Key Resistances

Click here to view original web page at www.ethnews.comKey Highlights
Technically, the hourly chart indicators are moving higher in bullish territory.
Ethereum Price Analysis
Yesterday, we discussed the chances of a short-term upward move in ETH/USD above $108.00. The pair did climb higher and broke the $107.50 resistance, but is struggled to stay above the $108.00 resistance.
ETH/BTC also started an upside correction and traded above the 0.0308BTC and 0.0310BTC resistance levels. The pair is currently moving higher, and it seems like it could test the 0.0312BTC or 0.0315BTC resistance.

Starting with the hourly chart of ETH/USD, the pair recovered steadily after trading as low as $104.08. Ether broke the $106.00 resistance and the 38.2 percent Fibonacci retracement level of the drop from the $111.20 high to $104.08 low.
More importantly, there was an hourly close above $106.00, but the price struggled to gain momentum above the $108.00 resistance plus the 61.8 percent Fibonacci retracement level of the drop from the $111.20 high to $104.08 low.
The current price action is positive and ETH/USD seems to be following a key ascending channel, with support at $106.00. Should sellers push the price below $106.00, there could be a fresh drop to $104.00 or $102.00.

Moving up to the 6-hour chart of ETH/USD, the pair is currently attempting to surpass a crucial bearish trendline near $108.00. A successful close above the trendline could push the price toward the $110.00-111.00 resistance zone.
Finally, a convincing close above $111.00 will most likely set the pace for more upsides toward $120.00 in the near term. If not, Ether’s price could resume its decline below $106.00 and $104.00.
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.
Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
Technically, the hourly chart indicators are moving higher in bullish territory. Ethereum Price Analysis
Yesterday, we discussed the chances of a short-term upward move in ETH/USD above […]
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