At Devcon 2024 in Bangkok, Ethereum co-founder Vitalik Buterin presented network updates, highlighting decentralization and quantum threat resistance. Meanwhile, Ethereum (ETH) struggles to surpass the $3500 mark.
Vitalik Buterin's Updates at Devcon 2024
At the Devcon 2024 conference, Vitalik Buterin shared plans to enhance Ethereum. The focus is on decentralization, censorship resistance, and preparation for quantum computing threats. Buterin highlighted the network’s transition from Proof of Work to Proof of Stake, which reduced energy consumption and increased security and sustainability.
Ethereum's Challenges Amid Market Growth
Despite the crypto market's growth, ETH has struggled to break the $3500 mark, which analysts believe could trigger a major bullish trend. Ethereum’s value recently tested support at $2414 and then surged 42% by November 13, but such rallies could lead to a pullback.
Technical Analysis and ETH Prospects
Over the last 24 hours, ETH declined by 9.37%, dropping to an intraday low of $3121. Currently, it is trading around $3145. The RSI on the 4-hour ETH/USDT chart is at 47, indicating a neutral market state. ETH is trading below its 9-day EMA of $3230, and further decline could test support levels at $2800 or $2460.
Vitalik Buterin highlighted key Ethereum upgrades that could significantly impact the network's future. Despite current ETH price challenges, the network's long-term outlook remains positive.
