Ethereum price analysis: ETH slowly retraces below $1,300, sets higher low again

Ethereum price analysis is bullish today as we have seen consolidation below $1,300 overnight and a quick return higher over the last hours. Therefore, ETH/USD should continue higher as another higher low is set and look to break above the $1,350 resistance.

Timeline of Ethereum

Shiba Inu, the world's second largest meme cryptocurrency prices dropped by around 12% over the past 30 days. However, this price move has encouraged the Ethereum (ETH) whales to add more SHIB tokens.

Researchers from Stanford University have created a prototype for “reversible transactions” on Ethereum, claiming it may solve or lessen the damage of cryptocurrency theft. Stanford blockchain researcher Kaili Wang unveiled a rundown of the reversible token idea on Sunday in a tweet, admitting it is not yet a finalised concept, but more of a “proposal to provoke discussion and even better solutions from the blockchain community.

The current market conditions continue to remain shaky as the BTC price failed to sustain above $19,000 during the early trading hours. Despite extreme bearish pressure, the price continues to trade close to the crucial resistance, signifying the coiling strength within the rally.

The Ethereum price (ETH) is in a downtrend and faces another rejection of the high at $1,400. The largest altcoin previously fell to a low of $1,220, but the bulls bought the dips.

Ethereum has experienced a decrease in ETH issuance since the Merge upgrade. Specifically, its issuance rate has decreased by 98% since the Merge, and the asset is not yet deflationary due to the fact that its issuance is still more than burned ETH. Ethereum (ETH/USD) is the second-largest cryptocurrency in terms of market capitalization.

Last week, American news outlet TIME took a closer look at how Ethereum ($ETH) has performed as an asset since the Merge upgrade, which was completed on September 15. As you probably already know, on September 15, Ethereum completed its Merge upgrade, which changed its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS).

Ethereum's future has been the topic of discussion since the Merge was introduced. The network post-Merge has raised concerns not only among the investors' community but also among leading figures and finance institutions, including JP Morgan.

In this episode of The Scoop, we take a closer look at the world of MEV with Viktor Bunin, a protocol specialist at Coinbase, and Stephane Gosselin, the founder of Flashbots — a research project that provides MEV solutions to Ethereum validators. The post This Paradigm-backed project is making Ethereum's technical underbelly more accessible appeared first on The Block.

The prices of Graphic Processing Units (GPUs) have fallen to their lowest ebb ever in China over the past few months. The reason for this is not far-fetched, as one of the major industries where they were deployed has embarked on a fundamental change of course that renders them redundant.

Stanford researchers have proposed new Ethereum token standards that support reversing transactions when the situation and evidence warrant it. The post Stanford Researchers Propose Reversible Ethereum Transactions appeared first on BeInCrypto.