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Ethereum SubZero Freeze announced as ETH Bears Press Lower



  • Ethereum (ETH) falls, down 7.5 percent
  • SubZero freeze marks end of June phase 0

ETH prices fall back as price action strives for balance. After the SubZero freezer announcing Phase 0, the Community changes its price average. At spot prices, ETH is under pressure and can therefore slid to $ 230 in the future.

Ethereum Price Analysis

Fundamentals

Good news for ETH holders and Ethereum as an ecosystem is that the network is ready for transition from proof of work to a stubborn consensus system. Controversial in some circles, era with Ethereum 2.0 is ready to roll. It follows the SubZero freeze message that marks the end of June phase 0:

"This release marks the end of June phase 0 spec freezing Berry️. V0.8 must act as a stable target as implementers work towards multi-client network in addition to ongoing efforts in formal control, fuzzing and auditing. "

Back in May, Justin Drake from the Ethereum Foundation published the freezer says:

" I have been doing fine campfire Zero in preparation for the special freeze that we target June 30. We are still very much on the way […] simplifications come through, which is great, and the process of fine combing is also to find final errors. "

It is simply that that is much needed. It is the perfect trigger that follows concern about whether Ethereum developers will follow their engagement and enable Ethereum 2.0 on time. Early on, this announcement also comes at a time when chain transactions are swelling. On June 28, the transactions exceeded one million mark, the most in one year and approx. 349k card January 4, 201

8.

Candlestick Arrangement

 Ethereum ETH

Synchronization with BTC, ETH is just under pressure. Although buyers have a chance, the odds may fall to $ 230 or lower in a retest. If bears are superior and there is a glide over these levels of support, retest would be complete.

It would be another opportunity for traders to vomit with the goals in June 2019 tops. Currently, sellers are lowering. Led by a double-beam machining pattern due to steep losses on June 27, each high should be virtually an opportunity with a goal of $ 230.

The level is of immense importance in this trading plan for a simple reason. It stabilizes the bulls, and if there is an increase in trading volumes driving prices lower, the blow-off will catalyze bears of $ 170.

Technical Indicators

Technically bullish corrects ETH. Included slides are decreasing amounts. Any resuscitation that runs ETH over $ 300 or falls below $ 230 should be with high participation, preferably over 554k on June 26.

Chart with permission from Trading View. Image Courtesy of Shutterstock


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