Ethereum NEAR FUTURE MOVEMENT Dec/15/22
Ethereum price analysis indicates Ethereum is stuck in a tight range and if the price breaks, then it might be a good entry point to short. The cryptocurrency has been trading inside a descending triangle for the past few sessions and is struggling to break above $1,300.
ETH/USD had spiked briefly to over $1,280 last week after finding resistance at the mid-$1,200 range. However, the digital currency fell back below $1,250 soon after. Currently, it is trading in a tight range of $1,190.19 and $1,227.04 and could be on the verge of breaking out towards the upside if it consolidates around these levels for a while longer.
The 200 SMA is slightly below the 50 SMA , showing that the path of least resistance could be to the downside. In addition, Ethereum’s price is below these moving averages, which suggests that bearish pressure is more dominant than bullish momentum at this point.
Every computer network is limited by its throughput capacity. How much data can it handle before becoming too congested? This problem is especially acute with a specific type of computer network: blockchains.
Because blockchains rely on network nodes to verify data integrity, they are prone to congestion. This is where a scalability solution like zkSync comes in.
Why Is zkSync Needed?
Short for zero-knowledge (zk), zkSync is a network that offloads Ethereum’s network traffic and relieves the mainnet of congestion and high transfer fees. Because zkSync’s existence is so tied to Ethereum , it is often called a Layer 2 scalability solution, whereas Ethereum itself is a Layer 1 network.
Ethereum accounts for half the traffic in DeFi. This includes NFT trading, token lending, borrowing, blockchain gaming, predictive markets, gambling, insurance , and DAO treasuries.
Ethereum may not be worth as much as Bitcoin but it has on average four times the daily transactions: .
ETH/USD had spiked briefly to over $1,280 last week after finding resistance at the mid-$1,200 range. However, the digital currency fell back below $1,250 soon after. Currently, it is trading in a tight range of $1,190.19 and $1,227.04 and could be on the verge of breaking out towards the upside if it consolidates around these levels for a while longer.
The 200 SMA is slightly below the 50 SMA , showing that the path of least resistance could be to the downside. In addition, Ethereum’s price is below these moving averages, which suggests that bearish pressure is more dominant than bullish momentum at this point.
Every computer network is limited by its throughput capacity. How much data can it handle before becoming too congested? This problem is especially acute with a specific type of computer network: blockchains.
Because blockchains rely on network nodes to verify data integrity, they are prone to congestion. This is where a scalability solution like zkSync comes in.
Why Is zkSync Needed?
Short for zero-knowledge (zk), zkSync is a network that offloads Ethereum’s network traffic and relieves the mainnet of congestion and high transfer fees. Because zkSync’s existence is so tied to Ethereum , it is often called a Layer 2 scalability solution, whereas Ethereum itself is a Layer 1 network.
Ethereum accounts for half the traffic in DeFi. This includes NFT trading, token lending, borrowing, blockchain gaming, predictive markets, gambling, insurance , and DAO treasuries.
Ethereum may not be worth as much as Bitcoin but it has on average four times the daily transactions: .
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