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📈 Price Predictions
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Raiden Red Eyes Successfully Deployed on Ethereum Mainnet

  • Thomas Hughes
    📈 Price Predictions

    The Raiden Network is a high-speed payments platform based on smart contracts and built on the Ethereum protocol

Raiden Red Eyes Successfully Deployed on Ethereum Mainnet
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The Raiden Network is a high-speed payments platform based on smart contracts and built on the Ethereum protocol. Their “Red Eyes” release is an alpha version used for testing and should be treated as such (bugs and other problems may arise).

Even if it’s just an alpha, its successful launch on the mainnet could bring Ethereum to new heights, especially if Red Eyes proves functional as a payment channel.

Chart Analysis – ETH/USD

ETH/USD chart

Lately, ETH has been moving like a rocket, posting 10% gains on Tuesday and a whopping 54% over the last 7 days, but currently trading at $129 against the US dollar after reaching a daily high at $139.

It must be noted that ETH/USD has not yet surpassed the 200 EMA on an 8-hour chart (at least not convincingly) and the Relative Strength Index is overbought (above its 70-level), so it would be wise to wait for a retracement lower before entering any positions but of course, this is not financial advice, just an opinion. In the longer term, 170 looks like the next target, with a cluster of resistance between 170 and 185.

Support zone: if the pair moves above 150, this will probably become support (as BRN - big round number); technical support sits at 122 – 125

Resistance zone: 170

Most likely scenario: move into 170 after possible retracements lower

Alternative scenario: sideways, choppy

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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📰 News
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Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt

  • Alex Dovbnya
    📰 News

    SoftBank is expected to breathe new life into struggling WeWork, but Jim Cramer says that the company is plagued by a massive debt

Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt
Cover image via u.today

Market analyst Jim Cramer told The Street that WeWork is really negative worth because of all its gargantuan debt. 

Having someone having leased is great idea, but it was, it was a leasing company, and I'm not going to diminish the fact that it was, at one point this fabulous story because it was growth, growth, growth, but it also was debt, debt, debt. 

On Oct. 22, CNBC reported that SoftBank would take control of WeWork while former CEO Adam Newman would maintain a small double-digit stake in the workspace rental company. 

It is expected that SoftBank would be able to get WeWork on a path to profitability, something that Uber and Lift, which recently launched their respective IPOs, are struggling to achieve. The Japanese giant could fork out an additional $5 bln to fund the embattled leasing company. 

Newman will reportedly walk take a cool $1.7 bln as part of the deal that would put WeWork's valuation to $8 bln on a pre-funding basis (a small fraction of the $45 bln it was worth before its failed IPO). 

WeWork was supposed to go public in September after confidentially filing for an IPO back in April, but its the hype around its public offering gradually started to dwindle and ended an in an epic fallout.  

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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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