Ethereum’s Death Cross Could be Averted by the Aug. 4th London Upgrade

• Ethereum’s 50-day MA and 200-day MA look acceptable to signifier a decease transverse aboriginal this month
• The decease transverse mightiness beryllium postponed oregon averted wholly by the motorboat of the London Upgrade
• Ethereum developer Tim Beiko, has projected the London Upgrade to beryllium activated connected August 4th astatine artifact 12,965,000
• Only clip volition archer whether the implementation of EIP1559 volition construe to marketplace gains for Ethereum successful the abbreviated term

Ethereum is staring astatine a decease transverse betwixt the 50-day moving mean and the 200-day moving mean arsenic highlighted successful the pursuing ETH/USDT chart.

Also from the chart, the pursuing tin beryllium observed:

• Ethereum’s decease transverse could hap astir mid-July to early-August
• The 50-day moving mean is besides acting arsenic sizeable absorption for Ethereum astatine current levels of $2,380
• Ethereum’s regular commercialized measurement is successful the green, confirming renewed buying involvement successful Ethereum
• The regular MACD is besides confirming a bullish trend
• The regular MFI and RSI are yet to participate into overbought territory astatine values of 62 and 56 respectively

Ethereum’s London Upgrade On August 4th Could Postpone oregon Negate the Death Cross

To enactment is that Ethereum’s highly anticipated London Upgrade had been scheduled for motorboat successful the 3rd 4th of 2021.

Yesterday, elder Ethereum developer Tim Beiko, proposed that the London Upgrade should beryllium activated astatine artifact 12,965,000 which is estimated to hap connected August 4th betwixt 13:00 UTC and 17:00 UTC.

Therefore, chances are that Ethereum mightiness proceed connected its bullish trajectory owed to the London Upgrade successful August and frankincense effect successful the postponement oregon negation of the earlier identified decease cross.

EIP1559 Is Set to Turn Ethereum into a Deflationary Asset

Ethereum’s London Upgrade is besides scheduled to see EIP-1559 which is aimed astatine solving the contented of precocious state fees connected the web arsenic good arsenic present a ‘fee burn’ mechanics with each transaction. Once EIP1559 is implemented, Ethereum volition past become a deflationary asset.

Consequently, traders and investors volition statesman to presumption ETH successful a favorable mode arsenic a simplification successful circulating proviso volition person a affirmative interaction connected the semipermanent terms of Etheruem.

However, successful the abbreviated term, lone clip volition archer whether method investigation of Ethereum arsenic seen done the decease transverse connected the regular ETH/USDT, volition triumph implicit the hype and excitement surrounding the activation of the London Upgrade.