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9 December 2021
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Ethereum

Ethereum Market Outlook: ETH/USD charges towards $300, developers encourage community to hack ETH 2.0

  • Ethereum core developer Danny Ryan has invited friendly hackers to break a couple of ETH 2.0 testnets.
  • The mechanics of the challenge are available on GitHub.
  • A $5,000 reward in ETH or DAI awaits the successful hackers. 
  • ETH/USD on course to charting five straight bullish sessions.

Ethereum core developer, Danny Ryan, has thrown an open challenge to coders to crack the recently-released ETH 2.0 “attacknets.” The mechanics of the challenge are available on GitHub.

Ethereum has urged the participants to remain ethical and ensure that private data remains confidential. Any coder who is submitting an issue should prove that they carried out the attack themselves and offer all the related technical details. 

As per Ethereum, the program will encourage and reward those who help in improving the blockchain. Hackers who can successfully take down a network will receive a $5,000 reward in either ETH or DAI. Ryan noted that while the current attacknets are relatively small and easy to hack, the subsequent ones will be tougher.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bulls continue their unrelenting charge towards the $300 price level as they stayed in control for the fifth straight day. The price has gone up from $279.56 to $283.60. The has been sitting on the upper curve of the 20-day Bollinger Band for three straight days. This, along with the RSI is trending above 70, shows that the asset is presently overvalued and may soon face bearish correction. The MACD shows increasing bullish market momentum. ETH/USD has two healthy support levels on the downside at $247.14 (SMA 20) and $237.75 (SMA 50).

Key levels

ETH/USD

OVERVIEW
Today last price 283.8
Today Daily Change 4.20
Today Daily Change % 1.50
Today daily open 279.6
TRENDS
Daily SMA20 244.17
Daily SMA50 237.95
Daily SMA100 221.21
Daily SMA200 201.98
LEVELS
Previous Daily High 287.74
Previous Daily Low 268.38
Previous Weekly High 287.74
Previous Weekly Low 233.4
Previous Monthly High 253.48
Previous Monthly Low 216.37
Daily Fibonacci 38.2% 280.35
Daily Fibonacci 61.8% 275.78
Daily Pivot Point S1 269.41
Daily Pivot Point S2 259.22
Daily Pivot Point S3 250.05
Daily Pivot Point R1 288.77
Daily Pivot Point R2 297.94
Daily Pivot Point R3 308.13
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