Likely To Be More Downsides to Ethereum – Cardano Exploring the Zero-Knowledge ProofsOctober 24, 2019
Bitcoin is down by 8%, and the price of the Ethereum is nothing short of a bearish run. Bitcoin broke many vital supports near $7,800 and $7,500.
ETH showed resistance at $165 on the ETH/USD chart. The ETH tested the $152 support area. There are likely to be more downsides to Ethereum. In a recent decline, the price broke down the $160 support area. The MACD for the ETH is in the bullish zone. Some opine that the cost of the ETH might see a 20% decline before a breakout can happen.
Consensus has come up with a satellite tracking app, which will be based on the ETH network.
Chris Lewicki, when talking about the role of Ethereum blockchain in preserving data integrity, stated, “Designing a system which is open, autonomous, and resistant to malicious and erroneous inputs presents considerable engineering challenges.” He further said, “The Ethereum blockchain technology integrated throughout our roadmap.”
After a sharp drop, the price of Ripple (XRP) tested the $0.2500 support area, and it is rebounding at present above $0.2650. Resistance is seen at $0.2800, and a major bearish line is forming on the charts. When strong signs of recovery evolve, the price will move towards a $0.2850 resistance level. The MACD for XRP/USD is moving in the bullish zone.
The Litecoin market is facing RSI retreats, and the selling pressure does not seem to slow down. Litecoin is not able to work beyond the bearish wave. Key support level was established above $50. The RSI emphasis is more on the bearish momentum, which is fast dominating the market.
TRX/USD has been trying to recover following a sharp selloff in the market. The TRON sell-off is expected to continue until $0.0139, as indicated by the lower line in the 1-hour Bollinger band.
Binance US has recently announced that they will be listing the DOGE/USDT trading pair. Before this announcement, a range of other listings like IOTA, ZCASH, and DASH made it to the exchange.
The EOS/USD pair has lost over 5% as a sharp sell-off took over the market. The EOS has been limited by $2.50 on the downside and $3.3 on the upside. The price tried to break past the barrier several times, but almost all of the attempts failed.
Cardano is seriously exploring the zero-knowledge proofs. This permits the transactions to be authenticated without the sender or the receiver having to reveal their personal information of any kind.
Charles Hoskinson was talking about “a technique for creating practical, scalable, and trustless cryptographic proving systems, ending an almost decade-long pursuit by the cryptography community.”