ETH/USD: Ethereum 2.0 testnet forked, market participants say it's OK

Schlesi testnet experienced its first fork on Suday, May 17.
ETH/USD continues moving within a bullish trend in sync with the market.

Tanya Abrosimova Independent Analyst

Schlesi, a testnet designed for public testing of Ethereum 2.0, forked on Sunday, May 17. The unexpected split took place at slot 141,184, which resulted in the creation of different slots that were validated independently.

Ethereum (ETH) 2.0 entered the public testing in the first quarter of 2020. Prysmatic Labs, PegaSys, Sigma Prime, Nimbus, and some other teams released their testnet environments for validators. This is the first known fork of the Ethereum (ETH) 2.0 multi-client testnet sandbox.

Commenting the fork, Ethereum creator Vitalik Buterin said that such things had happened regulary during Ethereum 1.0 testing.

Brings me back to the good old days! (March-Apr 2015 saw such things happen many times on the eth1 pre-launch Olympic testnet).

Generally, the community is not worried by the fork, as some bugs and issues are natural for testnets.

This is exactly the right attitude. Testnets are made to be broken. I was actually getting nervous that the Schlesi testnet was a little too stable. (@R_Tyler_Smith)

ETH/USD: Technical picture

ETH/USD is changing hands at $212.74, off the intraday high at $216.97. The second-largest digital asset is moving within the short-term bullish trend in sync the market. The local support is created by a 1-hour SMA50 on approach to $206.00. Once it is out of the way, the sell-off is likely to gain traction with the next focus on 1-hour SMA100 at $203.00.

An upside-looking RSI signals that the bullish sentiments may prevail with the initial resistance created by the intraday high on approach to $217.00. If it is broken, psychological 220.00 will come into focus. A broken upside trendline located around that area may slow down the recovery; however, once it is out of the way, the recovery will gain traction.