Ethereum’s “the merge” upgrade goes live
Ethereum's "the Merge" upgrade is now complete.
The overhaul transitions its blockchain from proof-of-work to proof-of-stake. According to the Ethereum Foundation, this will result in its energy consumption dropping by 99.95%.
Developers will monitor metrics, but ideally, users will be oblivious to the upgrade. So whilst this advancement won't make Ethereum faster, cheaper or increase scalability, it makes those features possible for future upgrades.
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Source: www.tradingview.com
ETHUSD is currently trading in its neutral channel between the blue bands. Its stochastic is flat and in "no man's land" (blue arrow). The Bollinger bands are starting to squeeze (green vertical rectangle). This contraction suggests that volatility is set to expand. In this regard, channel and stochastic bias will be insightful in trend direction determination.
Image by Peter Patel from Pixabay
Russell Shor
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
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