Ether is slightly moving down on Friday, Dec 21, trading at $117.18, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
Technically, an upward correction is coming. Previously, the price made a new low, although not a key one, then it converged and broke out the previous descending channel resistance. On H4, the ascending trend reached 23.60% Fibo, but this is only an intermediate point, though. The price is likely to move next to 38.20% ($135.20) and 50.00% ($152.00). The key support is meanwhile at $80.86.
On H1, Ethereum is quite steadily moving within an ascending channel. Still, there’s nothing out there that may prevent the price from reversal. If the uptrend predominates, it may hit the current resistance and move to the upper projection channel at $135.20. However, with the Stochastic diverging, a local pullback is very likely as well. In the latter case, the first target will lie at the short term ascending channel support at $105.95; then, the price may move to $98.00.
Western Union is ready to work with crytos, which is regarded as a positive news for the entire crypto market. The company is actively testing the environment, and at some point in time it may become a great opportunity for WU, as involving cryptos will also involve a quick and safe information transfer technology.
Hikmet Ersek, the WU CEO, said in summer he was not going to work with cryptos, as no global banks acknowledge bitcoin or altcoins, and thus WU did not need them either.
Another news that is worth mentioning is that Vitalik Buterin, the Ethereum founder, sent $300,000 to a few startups.
Oct 2018 @fredwilson w/ "tough love" comments on Eth
TLDR; He says Ethereum isn't killing it, they're blowing their lead. They're wittling value away by missing ship dates & are lacking basic operational leadership to get shit down
What do you think?https://t.co/kclM08t5s6
— Ryan Sean Adams (@RyanSAdams) December 18, 2018
This happened after Preston Van Loon, Prysmatic Labs founder, discussing the platforms’ opportunities and promotion. Later, Buterin attached a link, which proves the 1,000 ETH transfer to the startup. In the same way, Vitalik sent a transfer to Sigma Prime and ChainSafe.
Buterin said he was not an “Ether giveaway guy” in order to avoid crypto fraudsters. Yet, eventually, he proved to be one.
Meanwhile, ConsenSys is ready to get rid of some projects and, eventually, cut some jobs, which is negative for Ether, as this company is one of those that develop the Ethereum ecosystem.
Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.