The Ethereum blockchain, collectively known as Ethereum 2.0, is going through some major changes. The biggest change the upgrade will bring will be a shift from a proof-of-work consensus to a proof-of-stake mechanism. JPMorgan said last week that crypto staking could become a $40 billion industry by 2025, thanks in large part to the changes to the Ethereum network, which will expand the market massively.
ETH/USD – Daily Technical Levels
Pivot Point: 2,237.63The ETH/USD coin is trading at 2,327, having soared from the 2,283 double bottom level. Ethereum has recently closed a bullish engulfing candle, which supports a strong buying reversal in the ETH/USD. On the lower side, the upward trendline will extend support to the ETH/USD price at the 1,892 level, where a breakout of the 1,892 level could extend the selling trend until levels around 1,695 and 1,433. Let’s keep an eye on 2,415 for a sell. Good luck!