Ethereum analysis for 16/01/2019

Ethereum analysis for 16/01/2019:

The most important cryptocurrency exchanges in the United States, Coinbase and Kraken, have become the last supporters for Ethereum Constantinople.

The two leading exchanges joined Binance, Huobi and OKEx in supporting the event, which will be launched at Ethereum 7.080.000, expected later today: “Coinbase intends to fully support the upgrade of Ethereum Constantinople. After starting the update, for security and technical reasons, we will stop sending and receiving ETH on all our trading platforms until the update is complete, and we will confirm the network security” – employees write in the post on Twitter.

In the Kraken tweet, the exchange confirmed that it would support Constantinople, and high-level employees added that they expect that the fork will be indisputable and will not initiate competitive ETH chains, as it did in November with Bitcoin Cash: “Kraken will support this. No new coins will be granted to ETH holders because we expect the old network to quickly become obsolete” – traders can read in the official Twitter post.

Let’s now take a look at the ETH/USD technical picture at the H4 time frame. The market has failed the break through the technical resistance at the level of 127.59 and reversed towards the middle of the zone between the levels of 127.59 – 108.48. The momentum is still weak and negative and as long as the price will not break out from the zone, the trend remains neutral.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Ethereum analysis for 16/01/2019