Ronin Blockchain Transitioning to Ethereum Layer-2 Network
- Migration Announcement: Ronin blockchain is set to transition to an Ethereum Layer-2 network via a hard fork on May 12, resulting in approximately 10 hours of network downtime during which all transactions and smart contract activities will be suspended, urging users to finalize pending transactions beforehand.
- Security Enhancement: This migration aims to close security vulnerabilities by inheriting Ethereum's mainnet security, particularly significant after the $625 million exploit in 2022, thereby enhancing the network's resilience against future attacks and ensuring user asset safety.
- Tokenomics Restructuring: The annual inflation rate of RON tokens is expected to drop from over 20% to below 1%, with 90 million RON tokens redirected to the Ronin Treasury, which is anticipated to have a fundamentally bullish impact on the token's price, while marketplace fees will decrease from 1.25% to 0.5%.
- Incentive Model Change: Ronin is replacing its staking model with a “Proof of Distribution” model, where rewards will be allocated based on actual contributions rather than passive staking, aimed at incentivizing developers and builders, thus promoting network activity and innovation.
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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 | 2082.297 | 2169.284 | 2249.767 | 2336.754 | 2417.237 | 2504.224 | 2584.707 |
| Fibonacci | 2169.284 | 2233.257 | 2272.78 | 2336.754 | 2400.727 | 2440.25 | 2504.224 |
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