• Ethereum 2.0 won’t be launched in July, Vitalik Buterin denies the information.
  • ETH/USD continues moving in a tight range with bullish bias.

Ethereum’s co-founder Vitalik Buterin denied the information that ETH 2.0 would be launched by the end of July. He said that his comments during CoinDesk’s Consensus: Distributed were misunderstood. The clarification from Buterin came as Eth 2.0 testnet coordinator Afri Schoedon said that July launch was out of the question.

The final spec is not implemented in any client and we didn't launch a coordinated testnet yet. Going on stages or panels and putting out dates is not helpful at all. I don't think Vitalik said July. But I didn't see the talk.

Vitalik Buterin joined the discussion on Twitter and confirmed that he did not promised the launch in July.

Yeah I did not say July. Perhaps the question contained the word July but I did not hear July when it was asked.” He then sent a second tweet, saying, “OK I definitely should have heard July in the question, it was my mistake.

Ethereum shows little reaction

While such a mess and broken communication is generally a bad thing for the asset price, Ethereum showed little reaction and generally continued moving upwards on Wednesday. At the time of writing, ETH/USD is changing hands at $190.50, mostly unchanged on a day-to-day basis. The coin tested the intraday high above $191.00, but the move proved to be unsustainable so far. 

From the technical point of view, the local support is created by the psychological $190.00. If it is broken, the sell-off may be extended towards $188.50 with 1-hour SMA50 and the lower line of the 1-hour Bollinger Band located around that level. The next support is created by Tuesday’s low of $185.75.

On the upside, a sustainable move above $191.00 is needed for the upside to gain traction and take the price towards $193.50 (1-hour SMA100, May 11 high). This resistance is followed by $195.00 and psychological $200.00.

ETH/USD 1-hour chart


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


Recommended Content

Editors’ Picks

Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs

Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs

Bitcoin, Ethereum, and XRP hover around key support levels after registering a steep correction earlier this week. TRON network’s stablecoin activity hit new highs following the release of SunPump. TRON trades at around $0.1500, almost flat on the day.

More Cryptocurrencies News
Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level

Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level

Bitcoin price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.

More Bitcoin News
Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit

Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit

Vitalik Buterin, Ethereum co-founder, has not sold Ether since the altcoin’s ICO in 2018. On-chain transfers by Buterin make headlines as ETH holders keep eyes peeled for selling pressure on the altcoin. 

More Ethereum News
WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash

WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash

Three different hackers responsible for the exploit of crypto assets worth millions of dollars from crypto exchange WazirX, DeFi protocol Penpie, and Founder of Fenbushi Capital Bo Shen are using Tornado Cash to move part of the stolen funds.

More Cryptocurrencies News
Bitcoin: $50,000 on the horizon if it breaks below key support level

Bitcoin: $50,000 on the horizon if it breaks below key support level

Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP