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Ethereum: ETH/JPY Tests 50 Percent Fibonacci

Published 2 years ago by Peter Hampton

Ethereum: ETH/JPY Tests 50 Percent Fibonacci

Bitcoins & Altcoins via bitcoinsaltcoins.com

Ethereum ETHJPY Update: Ethereum struggled last week after China and South Korea both announced crackdowns on one of the key use cases of the decentralized blockchain, the so-called “Initial Coin Offerings” or ICO. However, the Ethereum network set a new throughput record by the end of the week, processing over a half million transactions in less than a 24 hour period. So it looks like, despite all the news attention being focused on the Chinese ICO ban, Bitcoin, and Ripple’s lawsuit, Ethereum has quietly continued to grow in the number of users and computational power. From a technical standpoint, Ethereum has cleared a similar path versus both the USD and the JPY. Versus the Japanese Yen, Ethereum has even tested the upper band of the daily Ichimoku cloud which also falls on the 50% Fibonacci retracement level. Disclaimer (1): As 4th point of the IDDA, you must calculate your risk tolerance before deciding on which trading strategy is suitable for your portfolio. For further insights on our strategy and where to set your sell limit order and profit taking levels based on your RISK TOLERANCE, join our investing group. Combining all points of the IDDA, here are Invest Diva’s calculations for important approximate levels to keep an eye on: This article was originally published on InvestDiva.com. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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