Tanya Abrosimova
Independent Analyst
- Ethereum developer believes that Ethereum 2.0 can be launched in 2020.
- ETH/USD may reach 3.0 if it settles above weekly SMA200.
Afri Schoedon, the pioneer of ETH2 multi-client testnets and an active member of the Ethereum community, believes that Ethereum 2.0 may be launched in 2020 provided that no critical bugs are found. He shared his views in the recent interview with Paradigm an investment firm focused on the blockchain industry.
The Ethereum 2.0 beacon chain will launch in November unless we find severe bugs in clients or protocol. I’m in-between Vitalk and Justin with my estimation here, I don’t think that we necessarily need to delay Ethereum 2.0 into 2021 unless we find critical issues. We are well on track for a late 2020 launch, he said.
According to Schoedon, official multi-client testnet Medalla will be launched soon, creating the final blocks necessary for activating ETH2 this year.
ETH/USD: Technical picture
At the time of writing, ETH/USD is changing hands at $265.00. The coin has gained nearly 9% on a day-to-day basis and stayed mostly unchanged since the beginning of the day. As the FXstreet previously reported, a sharp move above $260.00 created strong bullish momentum and pushed ETH/USD to $270.00. The price moved above 200-week SMA for the first time since the beginning of March. If the price settles above this technical barrier, the bullish impulse may take the price towards $300.00 in the foreseeable future.
ETH/USD weekly chart
-637311055132619921.png)
On the daily chart, ETH/USD is supported by the upper line of the daily Bollinger Band located on approach to $260.00. This former resistance now serves as a strong support, which means the bearish pressure may slow down here. If it is broken, the sell-off may be extended towards $236.00 (channel support created by 50-day SMA and the middle line of the daily Bollinger Band). This development will negate the bullish scenario and bring bears back to the market.
ETH/USD daily chart
-637311055352454092.png)
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
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.