empty
12.10.2022 09:08 AM
Technical Analysis of ETH/USD for October 12, 2022

Crypto Industry News:

Ethereum's transition to the proof-of-stake mechanism has opened blockchain to criticism from crypto fans. Many believe that because of this, Ethereum has become more centralized and the risk of censorship has increased.

So is Ethereum (ETH) really more centralized and prone to censorship now? Noah Buxton, head of blockchain services at Armanino, answered this question to the online media:

"It seems to me, and I can see it also from our clients, that when choosing a blockchain and where we launch a project or where we will create an NFT, the most important thing is the cost of the operation and the current share of blockchain in a given market and retail sales. The decentralization of a given network is a secondary, if not forgotten factor in the decision-making process "

First of all, customers want low fees for sending and transactions, as well as be sure that a given blockchain has a lot of users. Therefore, the most important thing is the service price (to be as low as possible) and the size of the market (to be as large as possible).

Ethereum, on the other hand, has actually become more centralized after switching to proof-of-stake. Blockchain now relies on validators, not miners, to add new transactions to the network. Validators decide which transactions go to each block and in what order. Electricity consumption has dropped by 99.99% after switching to staking, but hardly anyone realizes that much of the ETH that secures the grid is now in centralized entities.

Technical Market Outlook:

The ETH/USD pair has been seen bouncing again from the demand zone located between the levels of $1,281 - $1,255 after the level of $1,267 was hit. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305 and $1,326 (30 MA). The weak and negative momentum supports the short-term bearish outlook for ETH.

This image is no longer relevant

Weekly Pivot Points:

WR3 - $1,369

WR2 - $1,346

WR1 - $1,333

Weekly Pivot - $1,322

WS1 - $1,309

WS2 - $1,299

WS3 - $1,275

Trading Outlook:

The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.

Sebastian Seliga,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Tether avança com confiança rumo à entrada no mercado dos EUA

O Bitcoin continua a ser negociado dentro do canal 116.500-120.000, mostrando uma sólida volatilidade. O Ethereum, no entanto, está tendo um desempenho de forma significativa pior após um recente declínio

Jakub Novak 17:41 2025-07-24 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 24 de julho

O Bitcoin mais uma vez tentou ultrapassar os US$ 119.000, mas não conseguiu, recuando hoje para o nível de US$ 117.000. O Ethereum caiu novamente abaixo de US$ 3.600

Miroslaw Bawulski 17:24 2025-07-24 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 23 de julho

O Bitcoin voltou a ultrapassar os US$ 119.000, ultrapassando brevemente a marca dos US$ 120.000, mas depois recuou para cerca de US$ 118.500. Isso indica uma dificuldade considerável em retornar

Miroslaw Bawulski 17:47 2025-07-23 UTC+2

Ethereum á vista segue captando novos investimentos.

Apesar do Ether ter caído abaixo da marca de US$ 3.700, os influxos líquidos nos ETFs de Ethereum à vista do atingiram US$ 533,9 milhões ontem, o terceiro maior influxo

Jakub Novak 17:46 2025-07-23 UTC+2

Ethereum é impulsionado por uma demanda crescente

Nas últimas semanas, o Ethereum demonstrou um crescimento acelerado, mas ainda não ultrapassou seu recorde histórico. Claramente, com o influxo de novos recursos financeiros no mercado, o Ethereum está passando

Jakub Novak 17:01 2025-07-23 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 22 de julho

O Bitcoin mais uma vez não conseguiu se consolidar acima do nível de 19.000, caindo para a área de 16.000 durante a sessão asiática de hoje. O Ethereum também caiu

Miroslaw Bawulski 17:39 2025-07-22 UTC+2

Mercado cripto: altseason ganha força

O mercado de criptomoedas está dando fortes sinais de que está entrando em uma nova fase de altseason — um período de crescimento acelerado para as altcoins. Em meados

Jurij Tolin 17:25 2025-07-22 UTC+2

Bitcoin e Ethereum mantêm forte impulso

Após a assinatura de diversos atos legislativos na semana passada que regulamentam o setor de criptomoedas nos Estados Unidos, o Bitcoin e o Ethereum vêm demonstrando sólida confiança. Essa medida

Jakub Novak 14:45 2025-07-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 21

Bitcoin spent the weekend relatively calmly, trading within the range of $ 117,000 to $ 118,500, while Ethereum posted a solid gain, updating its monthly high to around $ 3,800

Miroslaw Bawulski 18:29 2025-07-21 UTC+2

Bitcoin: fim das correções profundas e dos invernos cripto

Depois de uma breve pausa em resposta às notícias de sexta-feira sobre a assinatura pelo presidente Trump de três novos projetos de lei que regulam o mercado de ativos digitais

Jakub Novak 15:30 2025-07-21 UTC+2
Não pode falar agora?
Faça sua pergunta no chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.