Loopring DEX Shuts Down Trading Services
- Trading Service Shutdown: Loopring DEX has ceased all trading services immediately, marking the end of one of Ethereum's earliest zkRollup trading projects, which struggled with limited adoption amid rising competition from newer Layer 2 systems.
- Asset Return Mechanism: User assets will be directly distributed to L1 wallets, with Loopring set to publish a final balance list, allowing users to avoid generating Merkle proofs, thereby simplifying the asset return process and demonstrating a focus on user experience.
- Centralized Distribution Strategy: The asset distribution will follow a centralized approach, with an upgraded smart contract permitting only whitelisted addresses controlled by Loopring to transfer assets, which, while more centralized than the original self-custody mechanism, aims to prevent users from facing complex withdrawal steps.
- Exclusion of Small Balances: Only accounts with final balances worth at least $10 will be included in the batch distribution, excluding smaller balances to enhance operational efficiency, although this threshold may impact some users' asset returns.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1211.64 | 1361.82 | 1507.29 | 1657.47 | 1802.94 | 1953.12 | 2098.59 |
| Fibonacci | 1361.82 | 1474.758 | 1544.532 | 1657.47 | 1770.408 | 1840.182 | 1953.12 |
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