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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Ethereum (ETH) Price Tepid As Developers Prepare For Beacon Chain

Dalmas Ngetich
Dalmas Ngetich
6 years ago
2 mins read
Ethereum ETH

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  • Ethereum (ETH) range bound below $300
  • Path to Serenity on course, Phase Zero set for early Jan 2020

Prospects of a scalable system incorporating proof of stake algorithm with Sharding could see ETH prices surge. After Serenity, Ethereum will be scalable. That alone is enough to lift prices to $400 or higher in coming days.

Ethereum Price Analysis

Fundamentals

There is a ray of hope as far as Ethereum 2.0 progress is concerned. Launching of Phase Zero of the Beacon Chain will be on Jan 3, 2020. To expound more, Beacon Chain will manage Casper’s Proof of Stake for itself and its shards. This is roughly six months from now.

However, the community is ecstatic about what Serenity will bring about. As laid out before, Serenity will not be a one-off upgrade. Instead, it will be rolled out in phases. Therefore, the mentioning of a feasible date is good progress from a development point of view.

In the road to a more resilient, decentralized and public blockchain with proof of work and Sharding, Serenity, according to Ethereum researcher Danny Ryan, will be more secure and robust.

Eventual activation will see the ease of use by eliminating complexities while simultaneously improving decentralization in that a “typical consumer laptop with O(C) resources to process/validate O (1) shards.” Even so, the researcher said the date is tentative as the exact time depends on testing results:

“Although it is feasible, the client teams are not yet ready to commit to a date, especially considering we haven’t entered into multi-client testnets yet. With each phase of development, there are plenty of unknowns so we will keep… tackling them as they come.”

Candlestick Arrangement

Ethereum ETH

As of the time of press, ETH is steady. However, it is lagging in performance, trailing BTC. Nonetheless, previous ETH/USD trade plans hold. Visible from the chart, ETH prices are ranging within a $60 zone with floors at $230.

Unless otherwise, prices rally past $290 and most importantly $300 complete with above average volumes, caution should prevail. Because of this, aggressive traders have a chance to buy the dips. However, conservative traders can wait for clear cut breaks above $290 as bulls step up with targets at $400.

Conversely, losses below this $60 trade range as ETH slide below $230 could see prices drop to $170 in a retest.

Technical Indicators

From above, the May 30 bar leads this trade plan. It is extensive with high participation. Any breakout below $290 or $230 with high trade volumes surpassing 410k will confirm or nullify this trade plan.

Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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