April 20, 2019

Ethereum (ETH) Price Could Surge To $200 In Near Term

ETH price remains well supported on the downside near the $170 area against the US Dollar.
The price settled in a positive zone above the $165 and $169 resistance levels.
There is a major bearish trend line formed with resistance at $176 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair could start a significant rally once there is a break above the $176 and $180 resistance levels.

Ethereum price gained traction from key supports versus the US Dollar and bitcoin. ETH is currently placed nicely above $170 and it could break $180 to climb sharply towards $200.

Ethereum Price Weekly Analysis

This past week, Ethereum price dipped further to test the $155 support area against the US Dollar. The ETH/USD pair traded close to the $155 support, which acted as a strong buy zone. The pair started a solid rebound above the $160 and $165 resistance levels. There was a break above the 50% Fib retracement level of the last decline from the $188 high to $155 low. Moreover, there was a close above the $162 pivot level and the 100 simple moving average (4-hours).

Finally, there was a break above the $169 and $170 resistance levels. It opened the doors for more gains and the price tested the $176-178 resistance area. The 61.8% Fib retracement level of the last decline from the $188 high to $155 low is also acting as a resistance. There is also a major bearish trend line formed with resistance at $176 on the 4-hours chart of ETH/USD. Therefore, the pair must break the $176 resistance area to climb further higher in the near term.

A successful close above the $176 and $180 resistance level may set the pace for more gains. The next resistance is at $188, above which the price could rally towards the $200 level. On the downside, the main support is near the $170 level. Below $170, the price is likely to decline further towards the $162 support and the 100 simple moving average (4-hours).

The above chart indicates that Ethereum seems to be testing a significant resistance near the $176 level. If buyers successfully gain traction above $176, there are chances of more upsides above the $180 and $188 level. Conversely, there is a risk of a downside reaction below the $170 support level. However, there are many supports below $170 near the $162 level.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is about to climb back in the bullish zone.

4 hours RSI – The RSI for ETH/USD is currently well above the 50 level, with a flat structure near 60.

Major Support Level – $170

Major Resistance Level – $176

Published at Sun, 21 Apr 2019 04:08:55 +0000

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May 24, 2017

Exscudo Releases EON Source Code On GitHub

Exscudo, the all in one financial services provider, has published the public part of the EON blockchain source code on GitHub.

[Note: This is a press release.]

The source code covers the rules of consensus, emission and block confirmation. The blockchain has been developed by the Exscudo team and is focused on providing and supporting financial services. It also enables Exscudo to develop its independent products and services.

The team has published the EON peer core source code on GitHub. It shows the main structure of the system, and how EON works and interacts within itself, but it does not cover the full functionality of the node.

“We are concerned about the security of our customers and we want to protect our intellectual property”, – CEO Andrew Zimine explains, – “I wouldn’t like anybody to set up a peer network before we do it ourselves. This is why we do not publish the full information about nodes on this stage.”

However, Exscudo plans to launch the EON test network in a couple of weeks after the end of the ICO. The detailed instructions for setting up regular and master nodes will be published in June. The minimum technical requirements for setting up a node on a virtual server are the following:

A machine with 1 or 2 cores
1-2 GB operational memory with Unix support
100-200 Gb HDD.

EON uses the DePOS mining algorithm. This means that the nodes that have more coins deposited are more likely to sign a block. DePos mining is considered to be fairer for node owners, as the rewards do not depend on the power capacity of the mining equipment.

The minimum sum required for starting a node equals 25.000 EON coins. In case a user deposits more coins on the node, he raises his chances to sign a block.

The launch of the EON test network is planned for June 2017. After the blockchain is set up, Exscudo will launch its first product, the Channels mobile app. Channels is a mobile wallet and secure messenger that works on the EON blockchain. It provides for secure communication, payments, trading and money exchange.

The key features and the structure of EON are easily explained in this video.

Images courtesy of Exscudo

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