Ethereum starts into a new age
It is time! With the launch of the Beacon Chain, the Smart Contract-Coin opens a new chapter today, Tuesday, which could change the block chain world forever. However, the new “Genesis” is merely the starting signal for a complex roadmap. The long-awaited change from Proof of Work to Proof of Stake is just one of many milestones in the Ethereum 2.0 roadmap. The project follows progress in terms of security and scalability and is also seen as a beacon of hope for a flourishing DeFi market. But how does the Ethereum course react to the successful launch?
Current Ethereum course
At the time of writing, Ethereum is quoted at USD 597.12, which is a daily minus of – 0.50%. According to this, the ETH bulls again fall below the important resistance at 600 USD. However, a 24-hour volume of approximately USD 30 billion indicates the enormous interest of investors. In the next few hours there could therefore be further attacks if the first mover plays along. If the USD 600 mark is broken, the next resistance is at the USD 620 trend line, a price level that ETH reached in the summer of 2018.
Despite ETH 2.0 launch: the focus remains on Bitcoin
The hype around the ETH 2.0 start is overshadowed by a highly volatile Bitcoin. After reaching the all time high, the bulls bounce off the magic 20000 USD mark on Tuesday, and they do so violently. In a rush the price dumps down by about 1000 USD. At the time of this article, the No.1 crypto currency is at 19060 USD, which corresponds to a daily minus of – 1.40%. Today’s chart again shows the vehemence with which the high volatility in the 20000 USD sphere is striking. On the one hand the hype after the ATH spills over into the mainstream, on the other hand sales and panic-sells play the bear into the cards. December could hardly start more exciting.
How does it go on?
After the failed attempt to reach the magic 20000 USD mark, the showdown at the 19000 USD hurdle will take place in the evening. Should the bulls win this trend line as support, this would be an important basis for further attacks on a new all time high. From a bearish perspective, the next supports are at the USD 18600 and USD 18200 levels.
What are the Altcoins doing?
The alternative assets are following the Bitcoin down Tuesday. Ethereum’s breakout is not taking place and a Bitcoin Dominance Index of 62.4% illustrates the balance of power between the “digital gold” and the Altcoins. Cardano (- 7.99%), Bitcoin Cash (- 6.61%) and EOS (- 6.32%) have to accept the biggest losses in the top 20. Further down the line, DeFi-Coins such as SushiSwap (+ 15.24 %) and Ampleforth (+ 7.28 %) have recorded smaller successes.