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ETH Could Restart Its Rally As It Calmed Down At $1280: Price Analysis

ETH could restart its rally as it was able to calm down at the $1280 level and tested the $1250 support zone against the US Dollar with the price consolidating and looking for a fresh increase in the near-term so let’s read more in the ethereum price news analysis today. The price is now correcting […]

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ETH could restart its rally as it was able to calm down at the $1280 level and tested the $1250 support zone against the US Dollar with the price consolidating and looking for a fresh increase in the near-term so let’s read more in the ethereum price news analysis today.

The price is now correcting lower from the $1385 but it is also above the 100 hourly simple moving average with a crucial contracting triangle forming with the support close to the $1275 on the hourly charts of ETH/USD. The pair will likely correct again but it is likely to remain bid above the $1250 support level. We already saw a downside correction in ETH below the $1350 and the $1300 support levels with the price spiking below the $1280 support level and the 100 hourly simple moving average. The pair tested the $1250 support zone and recovered above $1300 with a break above the $1350 resistance and close above the 100 hourly simple moving average but the price failed to surpass the $1400 resistance zone.

eth usd
Source ETHUSD on TradingView.com

The new high formed close to the $1388 level and the price is now correcting lower and it is testing the 50% fib retracement level from the upwards wave at $1251 low to $1388 high and there’s also a crucial contracting triangle that is forming with the support at the $1275 on the hourly charts of the pair. The triangle support is now close to the 76.4% fib retracement level from the upward wave from the $1251 swing low to the $1388 high and the triangle resistance is now near the $1360 and the $1365 level. The main resistance is now clear the $1385 and the $1400 level so a break above these levels could open the doors for a fresh new surge to the $1450 and the $1480 levels.

ETHBTC
Image Courtesy of Resolute. Source ETHBTC on TradingView.

If ethereum struggles to remain stable above the $1300 it could correct further so the initial support on the downside is close to the $1280 level and the triangle trend line. The main support is forming close to the $1250 level and if the coin fails to stay above these levels, it could decline towards the $1180 and $1165 support levels. The MACD for the pair is moving into the bullish zone while the hourly RSI is now closing up on the 50 level. ETH could restart the rally soon, if it manages to go straight into the bullish zone.

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Source: https://www.dcforecasts.com/ethereum-news/eth-could-restart-its-rally-as-it-calmed-down-at-1280-price-analysis/

Blockchain

Fight Club: Ousting Fakes With the Tech That Powers Bitcoin

They say that when you buy a Louis Vuitton you don’t just buy an item of good quality. Of course, ​the leather is soft, the logo is flashy and the price tag can be off-putting. However, you also buy the service that comes with it. Knowing that your precious boots or a backpack can be […]

The post Fight Club: Ousting Fakes With the Tech That Powers Bitcoin appeared first on The Daily Hodl.

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They say that when you buy a Louis Vuitton you don’t just buy an item of good quality. Of course, ​the leather is soft, the logo is flashy and the price tag can be off-putting. However, you also buy the service that comes with it. Knowing that your precious boots or a backpack can be taken care of at any store in the world makes this experience even more special. Doesn’t it?

Especially when you hear the amiable “I am sorry, miss – this is not Louis Vuitton” from a lovely consultant at Louis Vuitton Maison Champs Élysées who looks at you with a sympathetic smile. I don’t remember feeling that miserable, diminished and humiliated ever in my life before. It seemed to me that the whole store was staring at me and thinking, “Look at this Russian girl! She probably thought she could trick the staff!”

As a matter of fact, I wasn’t. The handle of my favorite backpack accidentally broke after two good years of traveling everywhere with me. I bought it in Moscow a few years ago at the official shop for a crazy price, knowing that this will be the item I can carry forever. I worship fashion and designers, so most of my clothes are with me for my whole life.

After returning to Moscow, I went to the boutique immediately. My communication with the managers was not successful, but I couldn’t help but start thinking about this issue. Most people today are completely unaware of the serious problems affecting counterfeit fashion goods, particularly within the designer handbag and accessories market. ​How are consumers supposed to know the difference between a real, authentic designer bag and a fake one?

I usually tell this as a funny story when we discuss fashion with someone. As a response I usually hear, “Oh, dear, we heard of it! We know for a fact that some boutiques, especially in CIS countries, mix real and fake items, to put some money in their purse.” So, what – everybody knows about it and nobody does anything about it?

It turned out that someone did. I recently participated as a mentor at the Startup Secret Santa event. To my great surprise, there is a blockchain technology that can protect the authenticity of the brand. The identity is assigned to its owner, tokenized and stored on the blockchain.

How does it work? The Swiss startup collectID equips products like handbags with encrypted NFC tags containing a unique identity (UID). This UID is stored as a token on a blockchain and assigned to the respective owner (a brand, a logistic specialist, a retailer or the final customer). This combination of software and hardware is truly tamper-proof and prevents products from getting counterfeited. A consumer simply scans the built-in NFC tag in their product with their smartphone and immediately sees whether the product is authentic or not. Brands can place additional content on their products and thereby combine their physical and digital worlds and create a unique experience for the consumers.

There are other solutions to the counterfeiting problem that follow a similar approach. Some of them also use NFC tags (i.e. Blue Bite) but lack the immutability of a decentralized blockchain protocol that ensures that it was really the original brand that confirmed the authenticity of the product. With such a solution, consumers still need to trust a middleman. Other solutions connect consumers directly with brands using blockchain technology (i.e. Arianee) but do this by using insecure QR codes that can easily be copied and linked with a fake product.

The disappointment I felt at Louis Vuitton was truly heartbreaking. Since this day, I never have been able to buy at a luxury boutique worry-free. But finally, there is a solution. I am sure that sooner or later it will become a market standard that will revolutionize the fashion industry.


Maria Stankevich is the CBDO at the EXMO cryptocurrency exchange. Journalist turned digital account head, turned head of communications, she managed PR and digital communications for big institutional players. Three years ago she joined the EXMO team, first as the head of communications and then as CBDO. In 2019, she won the award, “Top Person of the Year in Blockchain and Crypto,” according to the international Blockchain Life event. Now for EXMO, Maria manages new markets, listings and IEO services, partnerships with banks and payment systems and VIP sales.

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Julia Strekoza/Maxx-Studio

The post Fight Club: Ousting Fakes With the Tech That Powers Bitcoin appeared first on The Daily Hodl.

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Source: https://dailyhodl.com/2021/03/04/fighting-fakes-with-blockchain/

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