Ethereum analysis for 07/11/2018

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Launched earlier this year, Lition is already a licensed energy supplier in Germany with customers in 12 major cities (including Berlin, Hamburg and Munich), who currently benefit from a decentralized energy market.

Built on the basis of the Ethereum chain, the Lition market connects consumers directly with energy producers. According to the company’s data, currently, more than 700 households in Germany use this decentralized platform to buy energy. In short, Lition is trying to change the way the global energy industry operates, using a concept that is well known to Blockchain fans: “omit unnecessary intermediaries,” which will save users money. In the case of households, the energy supplier sells solar or electric energy (or any other) intermediary, often a giant, an international company. Customers then buy energy from this broker. The problem is that in the eyes of the general director of Lition, Richard Lohwasser, international intermediaries have too much influence and do not give users enough choices about what kind of energy they can buy. So the Lition solution is to cut them off completely.

“Our energy exchange connects customers and producers directly. Manufacturers put energy on the stock exchange and then customers can buy it. Usually, buying directly from producers is limited to energy suppliers who are large corporations. We transfer the exchange to the consumer so that consumers can pay for the energy of the type and producer of their choice ” – said Lohwasser. According to Lition, it saves customers an average of 20 percent on utility bills and increases plant revenues by up to 30 percent.

Let’s now take a look at the ETH/USD technical picture at the H4 time frame. The market has made a new local high at the level of $219 after the technical resistance zone between the levels of $214-$216 has been violated. Currently, the market is correcting the up move and the price is trading close to the level of $212.50, just above the technical support at the level of $208. Please notice the clear bearish divergence between the price and the momentum oscillator that indiates a possible deeper pull-back towards the level of $200 – $204.

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

Source:: Ethereum analysis for 07/11/2018

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