RATE Group | ETH/USD balances at the edge of the $160 cliff
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ETH/USD balances at the edge of the $160 cliff

24 Jan ETH/USD balances at the edge of the $160 cliff

Posted at 03:46h in Ethereum News by

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  • Ethereum 2.0 phase 0 is now stable; development shifting to phase 1.
  • Ethereum recovery depends on the bulls’ ability to defend $160 support and lift off above $170 stubborn resistance.

Cryptocurrencies have not managed to turn around the bearish wave this week. The last day of week’s trading is upon us but the market is thoroughly painted in red. Ethereum, for example, can barely hold above the support at $160. Besides, it is trading 1.31% lower on Friday after opening the Asian session at $162.

Ethereum 2.0 phase 0 is complete

According to Diederik Loerakker the developer in charge of Ethereum 2.0 specifications and implementations, phase 0 also referred to as Beacon Chain has stabilized. Similarly, phase 1 draft has already been completed. The draft clearly shows how shards will work together in the new protocol. Loerakker revealed that that the main focus is now on developing tests for phase 1 as well as coming up with finer details such as the custody…

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