02.11.201808:52 Forex Analysis & Reviews: Ethereum analysis for 02/11/2018

Long-term review

Ethereum's co-founder, Vitalik Buterin, presented a roadmap describing what he described as "a coherent whole Ethereum 2.0" at the Devcon4 conference in Prague on October 31.

Named "Serenity" is a project that covers several aspects, and Ethereum developers have been working on it since 2014. Ethereum users and analysts have long discussed the possible timeframes of network upgrades in which recent updates have been pushed to improve technical efficiency.

Serenity components should be transferred to the proof-of-stake algorithm, the Casper project, scalability improvements using a process called sharding, as well as various other protocol enhancements.

The developers will make final improvements before the "big start" - said Buterin. These will include stabilizing protocol and testnet specifications between clients - integrating at least two implementations of Ethereum 2.0.

Also during Devcon4, the developer Ethereum, who co-authored the ERC-20 ERC standard with Buterin in 2015, introduced a new model of initial coin offer (ICO), which he says will better protect investors from fraud.

Let's now take a look at the Ethereum technical picture at the H4 time frame. The market bounced from the level of $187, broke above the level of $192 and currently is trading just below the technical resistance at the level of $195. The next target for bulls is seen at the level of $199 - $201, but the key technical resistance zone is still located between the levels of $204 - $206. The momentum remains positive and strong, so there is still a chance for a rally higher.

Exchange Rates 02.11.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Sebastian Seliga,
Analytical expert of InstaForex
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