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Ethereum (ETH) Price Analysis — Struggling to Fix Above $175

  • Denys Serhiichuk
    Sponsored

    Any chances for Ethereum to rise in a short-term scenario ?

Ethereum (ETH) Price Analysis — Struggling to Fix Above $175
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The cryptocurrency market has not shown significant changes over the weekend, the rates of the top coins have almost unchanged. However, the total market capitalization has declined and now makes up $216 Bln.

Top 10 coins

Ethereum is showing a relatively more confident dynamics, with a favorable external background; it can be considered as one of the main coins in the portfolio amid a shortage of trading ideas in other assets.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Ethereum

ETH

$19 041 254 651

$176,26

$5 986 339 065

-0,43%

ETH/USD: Charts are Pointing at a Further Decline

ETH/USD quotes remain below the resistance level. Moreover, the price pushed off from moving averages, indicating downward momentum.

ETH/USD 1-day chart

As a medium-term trading idea, one should expect a test of the broken border of the upward channel at the level of $193, then a continued decline and a test of the support area at $140. The values of the RSI indicator also support the ongoing decline. There is an assumption that the “Head and Shoulders” pattern is being formed on the indicator, in this case, a downward trend is about to be continued. 

ETH/USD 4-hour chart

On the 4H chart, the leading altcoin is moving within the descending channel. A downward model “Flag” is being formed, which indicates a potential continuation of the fall with the first target at $140. Confirmation of the decline will be a breakdown of the lower border of the “Flag” model with fixing quotes below the level of $150.

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Ethereum is trading at $173,82 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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