As August 1st approaches, Bitcoin’s price is holding very well and trading at almost it’s all time high. What’s even more impressive is how most dips are getting bought as shown by the bullish wicks in the chart below.
The story is very different for Ethereum price which remains under pressure. The price broke the $200 support and is currently in a descending channel. As mentioned in yesterday’s article, the decision announced by the sec to regulate ICOs made some investors concerned about the impact of the regulations especially on the future demand. Ethereum’s price has been moving sideways between $200 and $250 and today, the $200 support was broken. The next support levels are $175 then ultimately $125.
As you can see from the chart below, the price has been in a descending channel since mi-June with some failed breakout attempts here and there.
Today’s price action confirmed it was not out of the descending channel yet.
Miners are still supporting the deployment of Segwit:
No Chain split (hard fork) detected so far: